Recording Closing Entries Refer to E4-18. Required: 1. What are the purposes of closing the books at
Question:
Refer to E4-18.
Required:
1. What are the purposes of “closing the books” at the end of the accounting period?
2. Using the adjusted balances in E4-18, give the closing entry for 2011.
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Related Book For
Fundamentals Of Financial Accounting
ISBN: 9780073527109
3rd Edition
Authors: Fred Phillips, Robert Libby, Patricia A Libby
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