Checkpoint+Preparing+Balance+Sheets+and+Statements[1]

Checkpoint+Preparing+Balance+Sheets+and+Statements[1] - QS...

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Unformatted text preview: QS 4-2 Identifying the accounting cycle List the following steps of the accounting cycle in their proper order: a. Preparing the post-closing trial balance. b. Posting the journal entries. c. Journalizing and posting adjusting entries. d. Preparing the adjusted trial balance. e. Journalizing and posting closing entries. f. Analyzing transactions and events. g. Preparing the financial statements. h. Preparing the unadjusted trial balance. i. Journalizing transactions and events Use the following adjusted trial balance of Webb Trucking Company to prepare a classified balance sheet as of December 31, 2005. Check Total assets, $235,500; K.Webb, Capital, $169,500 AAAAAA Account Title Debit Credit Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,000 Accounts receivable . . . . . . . . . . . . . . . . . . 16,500 Office supplies . . . . . . . . . . . . . . . . . . . . . . …2,000 Trucks . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170,000 Accumulated depreciation—Trucks . . . . . . . ……………………. $ 35,000Accumulated depreciation—Trucks ....
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Checkpoint+Preparing+Balance+Sheets+and+Statements[1] - QS...

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