3、Only the composition of specific owners' equity accounts changes with closing entries.
6、Fifth, make closing entries, journalize and post them; close all revenue and expense accounts; calculate net income anc transfer it to retained earnings account.
4、The chessboard type total bill and course summary table instead of general ledger units, closing entries, should a whole assembly course summary table and board ledger.
2、Preparing an after-closing trial balance. Ensuring that the ledger"remains in balance after posting of the closing entries.
5、The closing entries can be (a) taken directly from the worksheet, or (b) developed from the adjusted trial balance, if a worksheet is not prepared.
1、Closing the accounts includes two processes of journalizing and posting the closing entries.
