1. Project 3

1.6. Training Room 2

Project 3: Closing Entries

Project 3: Closing Entries

 

Emptying coins from one glass to another.

© Kalim/6690398/Fotolia

Training Room 2: Posting Closing Entries

 

Suggested Time: 160 minutes

 

Training Room Introduction

 

The image shows a cartoon picture of a young woman.


 

Posting the closing entries is like emptying out all of the money from an account and holding that money in another account. Now the original account is empty and ready to accept transactions for the next fiscal period.