Accounting Ch. 8

A worksheet, including a trial balance, is prepared from the general ledger at this stage: (a)   .

Transactions, from information on source documents, are recorded in a journal at this stage: (a)   .

Source documents are checked for accuracy, and transactions are analyzed into debit and credit parts at this stage: (a)   .

Adjusting entries are journalized and posted to the general ledger at this stage: (a)   .

Financial statements are prepared from the work sheet at this stage: (a)   .

Closing entries are journalized and posted to the general ledger at this stage: (a)   .

A post-closing trial balance of the general ledger is prepared at this stage: (a)   .

Journal entries are posted to the general ledger at this stage: (a)   .

Label the 8 steps to the Accounting Cycle below.

Accounts used to accumulate information from one fiscal period to the next.

• Accounting Cycle

• Permanent Accounts

• Temporary Accounts

• Closing Entries