Sheena is a private accountant who is working through the accounting cycle. She has completed transferring entries from the journal to a ledger. Her next step is to
A) record transactions in a journal.
B) do a trial balance.
C) prepare financial statements.
D) analyze the financial statements using ratio analysis.
E) transfer entries from the journal to the ledger.

Question

Quizplus · Accepted Answer

The next step after transferring entries from the journal to the ledger in the accounting cycle is to do a trial balance. The trial balance is used to ensure that the total debits equal the total credits in the ledger and serves as a tool to identify any errors before preparing financial statements.

Sheena Is a Private Accountant Who Is Working Through the Accounting