This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: reversing entry at the beginning of the next accounting period; this entry is the exact opposite of the adjusting entry made in the previous period. Steps 13 may occur daily during the accounting period, as explained in Chapter 3 . Companies perform Steps 47 on a periodic basis, such as monthly, quarterly, or annually. Steps 8 and 9, closing entries and a post-closing trial balance, usually take place only at the end of a company's annual accounting period....
View Full Document
- Spring '11
- Trial Balance