Financial Accounting Discussion Questions!

Financial Accounting Discussion Questions!

DQ# 1

What are the four closing journal entries? Why are these necessary?

DQ#2

What are the steps in completing the accounting cycle? How do the different steps affect the financial statements? What is the effect on the financial statements of missing a step when completing the accounting cycle?

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DQ# 1

Closing journal entries are made at the end of an accounting period. The four closing journal entries include closing the revenue accounts to income summary, closing the expenses………

APA

286 Words