Accounting: 6-4 Extending an Accounting Worksheet

What is the first step in the accounting cycle for RockHill Media?

• Identify and Analyze Transactions

• Posting to the General Ledger

• Adjusting Entries

• Record Transactions (Journal Entries)

Which step comes immediately after 'Posting to the General Ledger' in the accounting cycle?

• Financial Statements

• Unadjusted Trial Balance

• Closing Entries

• Worksheet

What is the purpose of 'Adjusting Entries' in the accounting cycle?

• To close temporary accounts

• To record daily transactions

• To update account balances before preparing financial statements

• To list all accounts and their balances

Which of the following is NOT a part of the accounting cycle?

• Closing Entries

• Financial Statements

• Record Transactions (Journal Entries)

• Bank Reconciliation

What is the final step in the accounting cycle for RockHill Media?

• Financial Statements

• Closing Entries

• Adjusting Entries

• Worksheet