Consider the adjustment process at the end of the accounting period. 1. Record the adjusting entries in the journal. 2. Prepare an adjusted trial balance to check the equality of the debits and credits. 3. Determine the accounts requiring adjustment, using the unadjusted trial balance. 4. Post the adjusting entries to the general ledger. Place the actions above in the proper order. Place the items in the proper order. A. 1,4, 3,2. B. 1,2,4, 3. C. 3, 4, 2,1 D. 3, 1, 4, 2

Question

Graves

Business

29 March, 05:59

Consider the adjustment process at the end of the accounting period. 1. Record the adjusting entries in the journal. 2. Prepare an adjusted trial balance to check the equality of the debits and credits. 3. Determine the accounts requiring adjustment, using the unadjusted trial balance. 4. Post the adjusting entries to the general ledger. Place the actions above in the proper order. Place the items in the proper order. A. 1,4, 3,2. B. 1,2,4, 3. C. 3, 4, 2,1 D. 3, 1, 4, 2

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Georgia Vaughn · Answer 1

D. 3, 1, 4, 2

Explanation:

At the end of the year, the trial balance is prepared. A review of the balances in the trial balance of accounts in which transactions have been omitted or recorded inappropriately.

The adjusting entries are recorded as journals and posted into the identified accounts and then, the adjusted trial balance is prepared to check the equality of the debit and credit balances.

From the options given, the right order is

- Determine the accounts requiring adjustment, using the unadjusted trial balance

- Record the adjusting entries in the journal.

- Post the adjusting entries to the general ledger. Place the actions above in the proper order

- Prepare an adjusted trial balance to check the equality of the debits and credits

D. 3, 1, 4, 2