Ch3. Video 12 - Closings:Post-Closing Trial Balance Example

Ch3. Video 12 - Closings:Post-Closing Trial Balance Example

Assessment

Interactive Video

Business

University

Hard

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The video tutorial covers the process of closing entries in accounting, including handling revenues, expenses, and dividends. It explains how to create an income summary account, close it, and prepare a post-closing trial balance. The tutorial emphasizes the importance of balancing debits and credits and provides a step-by-step guide to ensure accuracy in financial statements.

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What new insight or understanding did you gain from this video?

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