Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Sep 2017 My Price 4.00

accounting cycle.

The preparation of closing entries

  1. is an optional step in the accounting cycle.
  2. results in zero balances in all accounts at the end of the period so that they are ready for the following period’s transactions.
  3. is necessary before financial statements can be prepared.
  4. results in transferring the balances in all temporary accounts to Retained Earnings.

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Maurice Tutor
(5)
Status NEW Posted 10 Sep 2017 02:09 PM My Price 4.00

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