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Introduction to The Closing Process

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On your slide it shows adjusted TB and then FS. Don't we need to close (ie Revenue and expense) before the preparing the FS. Please elaborate.

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You use the adjusted TB to prepare FS. If you do closing entries before the FS, on the TB your temporary (revenue, expense, dividend) accounts will be zero which means you don't have any amounts for anything on the income statement.

Course Syllabus
INTRODUCTION AND OVERVIEW
The Closing Process
  14:13Closing Journal Entries
  6:22Adjusting Journal Entries
  12:56Adjusted Trial Balance
CONCLUSION
  11:44Ending the Closing Process
Continuous Play
  53:13Core Financial Accounting: The Closing Process
SUPPORTING MATERIALS
  PDFNotes Template: The Closing Process
  PDFWorkbook: The Closing Process
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM