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Q: How many closing journal entries are there usually?
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Continue Learning about Accounting

After posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?

2


When posting the entries from the journal the Breneman Management Service Ledger should have at least one debit entry in how many accounts?

2


What does it mean when after posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?

9


Write accounting cycle?

The accounting cycle is often described as a process that includes the following steps: identifying, collecting and analyzing documents and transactions, recording the transactions in journals, posting the journalized amounts to accounts in the general and subsidiary ledgers, preparing an unadjusted trial balance, perhaps preparing a worksheet, determining and recording adjusting entries, preparing an adjusted trial balance, preparing the financial statements, recording and posting closing entries, preparing a post-closing trial balance, and perhaps recording reversing entries. Cycle and steps seem to be a carryover from the days of manual bookkeeping and accounting when transactions were first written into journals. In a separate step the amounts in the journal were posted to accounts. At the end of each month, the remaining steps had to take place in order to get the monthly, manually-prepared financial statements. Today, most companies use accounting software that processes many of these steps simultaneously. The speed and accuracy of the software reduces the accountant's need for a worksheet containing the unadjusted trial balance, adjusting entries, and the adjusted trial balance. The accountant can enter the adjusting entries into the software and can obtain the complete financial statements by simply selecting the reports from a menu. After reviewing the financial statements, the accountant can make additional adjustments and almost immediately obtain the revised reports. The software will also prepare, record, and post the closing entries.


How many sentences does the closing of a business letter have to be?

The closing of a business letter has just enough sentences to convey information for follow up or response and to thank the recipient. This is usually two or three sentences.

Related questions

When are closing entries journalized and posted?

Many companies vary on when they do closing entries. Closing entries are posted to the journal, then the ledger and then a post closing trial balance is made to determine the Retained Earnings of a business for a certain period of time, many companies do this monthly. However, each company varies on the accounting period they choose to do this in.


What form did most Thoreau's writing takes?

Essays and articles


After posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?

2


When posting the entries from the journal the Breneman Management Service Ledger should have at least one debit entry in how many accounts?

2


What are twenty journal entries for the book Incident at Hawk's Hill?

One should be able to easily make that many journal by reading all of the book. Or read at a website where the book is analyzed. A link is provided.


What does it mean when after posting the entries from the journal the breneman management service ledger should have at least one credit entry in how many accounts?

9


Can a journal entry have 2 paragraphs?

Yes, it is common for journal entries to have multiple paragraphs to separate different thoughts, events, or reflections. Breaking up the entry into paragraphs can help organize the content and make it easier to read and understand.


How many required steps are there in the accounting cycle?

There are typically eight required steps in the accounting cycle: analyzing transactions, journalizing transactions, posting to the general ledger, preparing a trial balance, making adjusting entries, preparing financial statements, closing the accounts, and preparing a post-closing trial balance.


How many unknown entries can there be in a royal rumble?

there will be 40 entries in royal rumble 2011


Write accounting cycle?

The accounting cycle is often described as a process that includes the following steps: identifying, collecting and analyzing documents and transactions, recording the transactions in journals, posting the journalized amounts to accounts in the general and subsidiary ledgers, preparing an unadjusted trial balance, perhaps preparing a worksheet, determining and recording adjusting entries, preparing an adjusted trial balance, preparing the financial statements, recording and posting closing entries, preparing a post-closing trial balance, and perhaps recording reversing entries. Cycle and steps seem to be a carryover from the days of manual bookkeeping and accounting when transactions were first written into journals. In a separate step the amounts in the journal were posted to accounts. At the end of each month, the remaining steps had to take place in order to get the monthly, manually-prepared financial statements. Today, most companies use accounting software that processes many of these steps simultaneously. The speed and accuracy of the software reduces the accountant's need for a worksheet containing the unadjusted trial balance, adjusting entries, and the adjusted trial balance. The accountant can enter the adjusting entries into the software and can obtain the complete financial statements by simply selecting the reports from a menu. After reviewing the financial statements, the accountant can make additional adjustments and almost immediately obtain the revised reports. The software will also prepare, record, and post the closing entries.


How many sentences does the closing of a business letter have to be?

The closing of a business letter has just enough sentences to convey information for follow up or response and to thank the recipient. This is usually two or three sentences.


Is it weird to have a journal?

No. Many people keep a journal