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Please help with accounting questions. See attachments below. Exercise 4-21 Closing Entries Ivey Publishing provides the following trial balance at March 31: Required: 0 1

Please help with accounting questions. See attachments below.

image text in transcribed Exercise 4-21 Closing Entries Ivey Publishing provides the following trial balance at March 31: Required: 0 1 Prepare Ivey's closing entries at March 31. If an amount box does not require an entry, leave it blank or enter "0". M ar ch 31 March 31 M ar ch 31 March 31 M ar ch 31 March 31 Prepare Post-Closing Trial Balance. Ivey Publishing Ivey Publishing Post-Closing Trial Balance Post-Closing Trial March 31 March 31 Debit Credit Debit $ Credit $ Totals Totals$ $ Exercise 4-25 Match Terms and Definitions The following is a list of various accounting terms and definitions: Required: Match each accounting term with the appropriate definition. The final step in the accounting cycle whereby all revenue, Accrual basis of accounting expense, and dividend account balances are transferred to the Retained Earnings account. Cash basis of accounting Cash is received before revenue is earned. Adjusting journal Entries made into entries the general journal at the end of an accounting period that record previously unrecorded revenues or expenses. Deferred revenue Expense is incurred before cash is paid. Revenues are recorded only when Accrued revenue cash is received, and expenses are recorded only when cash is paid. Deferred expense Cash is paid before expense is incurred. Revenues are recorded only when Accrued expense they are earned, and expenses are recorded only when they are incurred. Revenue is earned Closing process before cash is received. A listing containing a name and a Accounting information system numerical reference for all the accounts that a company uses to record accounting information. A recording system in which at least two Accounting transaction accounts will be affected when recording every accounting transaction. The system that identifies economic events to be recorded, measures and records those Account events, and then processes the resulting information so that financial statements can be prepared. An accumulation of Double-entry the activity and accounting balance for a specific item. Any economic event that affects specific Chart of accounts asset, liability, or equity accounts at the time of the event. Debit Credit The right side of an account. The left side of an account. A collection of Journal accounts and their balances. A listing of all Ledger accounts and their balances at a specific point in time. A chronological Trial balance record in which transactions are first recorded. Correct Pair Incorrect Pair

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