The Accounting Cycle
samsunshineWeek 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?
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