Answer:
answer of that question is in explanation part.
Explanation:
Question:
The two optional steps in the accounting cycle are prepare:
- reversing entries and a worksheet
- an adjusted trial balance and a post-closing trial balance
- a post-closing trial balance and reversing entries
- a worksheet and post-closing trial balances
Accounting Cycle:
The accounting cycle is composed of 10 steps to prepare the financial statements during the period. It is the process of analyzing financial transactions, journalizing, summarizing, and preparing financial statements.
Answer and Explanation: 1
Answer: reversing entries and a worksheet
A worksheet is a multi-column sheet that shows the trial balance, adjustments, adjusted trial balance, income statement, and balance sheet. This is optional because an accountant can prepare these statements separately to present them more clearly and easier to understand.
Reversing entries are entries at the start of the accounting period to reverse the adjusting entries made from the last accounting period. This is optional because even if reversing entries is not made, the result will still be the same. Reversing entries provides ease in making the journal entries for the period.
