Closing Entries

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Definitions
Closing Entries
Closing Entries Accounting Period Income Ledgers Expense Ledgers Profit and Loss Account Financial Statements Accounting Cycle
Final entries made at the end of an accounting period to close off the income and expense ledgers to the profit and loss account.
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Definitions
Post-Closing Trial Balance
Post-Closing Trial Balance Accounting Financial Statements Closing Entries Temporary Accounts Trial Balance General Ledger
A Post-Closing Trial Balance is prepared after closing entries are recorded and posted, ensuring that beginning balances for the next accounting period are accurate and free of temporary accounts.
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