Closing entries

Closing entries - losing entries

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Unformatted text preview: losing entries http://www.perdisco.com/elms/qsam/html/qsam.aspx of 10 18/05/2008 12:31 AM Navigation map You have currently completed approximately 78% of your Accounting Practice Set. We estimate that it may take you up to a further 4.5 hours of study time to complete this and the remaining Practice Set pages. This page of the Accounting Practice Set could take you up to 2 hours of study time to complete. These time frames are a guide only. It may take you more or less time to complete each step. dditional information Closing entries This practice set continues over multiple pages. Saving your position. If you want to save this practice set where you are up to and come back to it at a later time, click the bookmark button on this page to save your position and be returned to your home page. To re-enter the practice set at this page at a later time, simply click the link that you originally clicked to access this practice set. Please note that any answers you have entered on the bookmarked page are not kept with your bookmark. When you are ready, enter your answers and click submit answers . You will receive immediate feedback to everything you have attempted. You cannot go backwards once you have submitted a page. Instructions for closing entries Record closing entries in the general journal. Post the closing entries from the general journal to the relevant ledger accounts Record the final closing balance of each ledger account in the Post-Closing Balance row of each ledger, even for ledgers with a balance of zero. Although each ledger already has a running balance, the Post-Closing Balance row must still be filled out in order receive full marks. Please note that any answers from previous pages carried through onto this page (either on the page or in a popup information page) are the correct answers, not your particular answers. Remember to enter all answers to the nearest whole dollar . Additional instructions Displaying selected journals and ledgers: Not all journals and ledgers will be displayed on every page. On this page you can access the general journal and all ledgers necessary to answer this question. There are several tabs representing different views of the journal and ledgers. The active tab by default is Show All, but you may also select General Journal to just view the general journal or select General Ledger to just view the general ledger accounts. If you fill in the journal or any ledger accounts and change the view on this page by selecting a different tab, the information that you have entered will remain in that journal or ledger and be displayed whenever you can see that journal or ledger....
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Closing entries - losing entries

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