Week 7: Closing Entries and Post-Closing Trial Balance and Final Submission to ePortfolio Due by the end of Week 7 at 11:59 pm, ET. It is the final step in the accounting cycle. You are at the end of the month, and you have to reset the temporary accounts prior to the new period starting. You must do the closing entries in order to complete this. Please close the appropriate accounts using the journal and ledgers again. Make sure to do a post-closing trial balance to ensure you are still in balance after the closing is finished. Continue to use the Excel templates provided.

Capital Account is 0

Common Stock 75000

Paid-in Excess of Par 25000

Retained Earnings 1849.59