Accounting: Closing Entries, Post Closing Trial Balance

This video is the fourth in a series on financial accounting. It walks through the last part of the accounting cycle, the closing process. It illustrates how to prepare the closing journal entries and the post-closing trial balance. Some textbooks use the Income Summary account to facilitate the closing process, but the Income Summary account is not really necessary.

[Alfredoosauce]

I'm learning so much, my head is gonna explode!