Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

dont solve this this isnt the actual question i was just looking to see if there was any similar Closing entries In this stage of

image text in transcribed
dont solve this this isnt the actual question i was just looking to see if there was any similar
Closing entries In this stage of the accounting cycle, you are asked to record closing entries in the general journal and then pos them to the general ledger accounts. This step must be completed to prepare the accounts for the next accounting period. Instructions for closing entries 1) Record closing entries in the general journal. 2) Post the closing entries from the general journal to the relevant general ledger accounts 3) Record the final closing balance of each ledger account in the Post-Closing Balance row of each ledger, even for ledgers with a balance of zero. Although each ledger already has a running balance, the Post-Closing Balance row must still be filled out in order receive full points. Back-On-Track functionality Please note that any answers from previous pages carried through onto this page (either on the page or in a popup information page) have been reset, if necessary, to the correct answers. Your particular answers from previous pages are no longer shown. Remember: Enter all answers to the nearest whole dollar. You are also required to apply the journal and ledger instructions provided in previous stages of the practice set. Before pressing the Submit answers button, we recommend that you click the Show All tab and check that all relevant accounting records have been completed. Show All General Journal General Ledger GENERAL JOURNAL Date Account and Explanation Post Ref. Debit Credit Jun 30 Income Summary select Closing entries In this stage of the accounting cycle, you are asked to record closing entries in the general journal and then pos them to the general ledger accounts. This step must be completed to prepare the accounts for the next accounting period. Instructions for closing entries 1) Record closing entries in the general journal. 2) Post the closing entries from the general journal to the relevant general ledger accounts 3) Record the final closing balance of each ledger account in the Post-Closing Balance row of each ledger, even for ledgers with a balance of zero. Although each ledger already has a running balance, the Post-Closing Balance row must still be filled out in order receive full points. Back-On-Track functionality Please note that any answers from previous pages carried through onto this page (either on the page or in a popup information page) have been reset, if necessary, to the correct answers. Your particular answers from previous pages are no longer shown. Remember: Enter all answers to the nearest whole dollar. You are also required to apply the journal and ledger instructions provided in previous stages of the practice set. Before pressing the Submit answers button, we recommend that you click the Show All tab and check that all relevant accounting records have been completed. Show All General Journal General Ledger GENERAL JOURNAL Date Account and Explanation Post Ref. Debit Credit Jun 30 Income Summary select

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial And Managerial Accounting

Authors: Robert Meigs Jan Williams, Sue Haka, Mark S Bettner

16th Edition

0077557344, 978-0077557348

More Books

Students also viewed these Accounting questions