Final answer:
The correct answer is option d. The step for preparing the balance sheet is posting to the general ledger.
Step-by-step explanation:
The step for preparing the balance sheet is d) Posting to the general ledger. This involves transferring the transaction details from the journal to the respective accounts in the general ledger. The general ledger organizes all the accounts and their balances, which are then used to prepare the balance sheet.
The process of preparing a balance sheet involves several key steps:
Analyzing transactions.
Posting to the general ledger.
Preparing adjusting entries.
Preparing an adjusted trial balance.
Assembling the financial statements, including the balance sheet.
Closing entries are made after the financial statements have been prepared to reset the balances of temporary accounts in preparation for the next accounting period. Analyzing transactions is the process of reviewing the economic events that affect the financial position of the business and recognizing them in the accounting system. Posting to the general ledger is the process of recording the financial transactions in the accounting system. However, of the options given, the specific step that is part of balance sheet preparation is making adjusting entries.