The Accounting Cycle

Week Four  -- DQ 1 – due Day 2 (Tuesday)

The Accounting Cycle

• Describe the required steps in the accounting cycle.  Be sure to incorporate the accounting equation and how debits and credits work in your discussion.

Week Four -- DQ 2 – due Day 4 (Tuesday)

Year-End Closing Entries

• Describe the nature and purpose of the adjusted trial balance.
  
  
• Explain the purpose of closing entries.  Is there any difference in how closing entries are recorded as compared with recording daily transactions and adjusting entries?  Why or why not?

GIVE ANSWER IN AT LIST 100 - 150 words to each