Question

Test Question 3 ES 2 Points In the sequence of accounting cyce steps, which step follows the preparation of the adjusted trial balance? A Adjusting entries are journalized and posted. HVN B) The optional end-of-period spreadsheet is prepared. C) Financial statements are prepared. 22 GOK Bird D Closing entries are journalized and posted to the ledger a LOCK Bro Question 4 2 Points A business with highly seasonal operations may adopt a fiscal year that: 2 Ad | Acrob A ends when business activities have reached their highest point in its operating cycle. PE B corresponds to the calendar year. JZZP Note and when heinecchie has reached their livet mint in its navarino W 95 minutes remaining Lac Save and close 12 Submit Lost Soved 30:54 PM Type here to search

Answer 1

Answer to question no.3

The correct answer should be (c) Financial statements are prepared.

the sequence of accouting cycle will be as follows -

1. Analyze transaction

2. Prepare journal entries

3. Post journal entries in ledger

4. Unadjusted trial balance

5. adjusting entries

6. Post adjusting entries

7. Adjusted trial balance

8. financial statements

9. closing entries

10. Post closing entries

11. Post closing Trial balance

Please check with your answer and let me know.