Module 3, Video 8 - Closing Entries - Problem 3-3A concluded

Module 3 examines five types of adjustments: 1.) Depreciation/Amortization, 2.) Prepaid expenses, 3.) Accrued expenses, 4.) Accrued Revenues, and 5.) Unearned Revenues.
We learn how to prepare an adjusted trial balance, closing entries and a post-closing trial balance.

[jcsells]

Why don't you use Income Summary to close off Rev's and Exp's ?

[asrahasmadul]

Im going to be an excellent student in financial accounting..😂