1. put the steps for creating a trial balance in the correct order.

step 1
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step 2
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step 3
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step 4
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answer
a.
total the debit column of the trial balance and then total the credit column of the trial balance.
b.
balance the ledger accounts.
c.
prepare a list of ledger accounts used in the business.
d.
transfer the ledger accounts to a trial balance or list the balance account. if the ledger account shows a debit, balance the debit side of the trial balance. if the ledger account shows a credit, balance the credit side of the trial balance.

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?