Step 1 Step 8 Journalize and Post Closing Entries and Prepare a post-closing Trial Balance Sheet Analyize the

Transaction Step 2 Journalize the Transaction

Step 7 Prepare Financial Statements 1. Income Statement 2. Retained Earnings statements 3. Balance Sheet

Accounting Cycle

Step 3 Post the Transaction to the General Ledger (T-Accounts)

Step 6 Prepare Adjusted Trial Balance Step 5 Prepare Adjusting Jounal Entries and post to general Ledger MJC 2/2012

Step 4

Prepare a
Trial Balance