A bookkeeper's first task is to:

• A. Close the temporary accounts to retained earnings.
• B. Analyze each transaction to determine the accounts to be debited and credited.
• C. Reconcile the bank statement with the cash account.
• D. Prepare the financial statements for the period.

Answer: (B)

Verified step by step guidance

1. Understand the role of a bookkeeper: A bookkeeper is responsible for recording financial transactions, maintaining accurate records, and ensuring the accounts are balanced.
2. Clarify the concept of temporary accounts: Temporary accounts include revenue, expense, and dividend accounts that are closed at the end of the accounting period to retained earnings in the equity section of the balance sheet.
3. Analyze the options provided: Evaluate each task mentioned in the problem to determine its relevance to the bookkeeper's primary responsibilities.
4. Focus on the correct sequence: The first task of a bookkeeper is to analyze each transaction to determine the accounts to be debited and credited. This ensures accurate recording of financial data.
5. Explain why other options are secondary: Closing temporary accounts, reconciling the bank statement, and preparing financial statements are important but follow after the initial analysis of transactions.