Columns: Identify the matching terms in two columns.

Recording Adjusting and Closing Entries for a Service Business Quiz

A businesses adjustments are analyzed and planned on a worksheet, and then journalized so that they can be posted to their individual general ledger accounts. The journal entries recorded to update general ledger accounts at the end of a fiscal period are called adjusting entries. It is these entries which are recorded and then posted so that an updated post-closing trial balance can be prepared.

Academic Tutor
Institute of Technology
Clovis, CA

This activity was created by a Quia Web subscriber.
Learn more about Quia
Create your own activities