Intro to Accounting Part IV: Closing Entries -The Closing Procedure & The Post Closing Trial Balance

The final steps of the 9 steps in Accounting. We look at the four steps to creating closing entries, what are nominal/temporary accounts and Real/permanent accounts and creating the Post Closing Trial Balance.

[lucianasknowledgebank]

Watched your Accounting videos and found them informative and helpful. Thank you, I will apply this to my business.

[Tomis_C]

Amazing great job 👍 Thanks for sharing 💖

[mysticyolandaasmr]

Great job Nicole, thanks for sharing this with us! 👍

[AmalSri_Motivator]

So, in the T account of income summary, you have put the profit into credit side to make the balance zero, is it correct?
By the way, appreciate the effort!
Thank you for your time.