[学习笔记] 【学习笔记】deferrals Prepaid expenses -supplies -insurance -depreciatio ... [推广有奖]

deferrals
Prepaid expenses
-supplies
-insurance
-depreciation

Unearned revenues

accruals
accrued revenues

accrued expenses
-accrued interest
-accrued salaries and wages
-bad debts. dr bad debt expenses. / cr allowance for doubtful accs. -similar to accumulated dep-eq.   contra. assets

adjusted trial balance-preparation of financial statement


closing entries
the closing process reduces the balance of nominal accs to zero in order to prepare the accs for the nexr period\'s transactions -transfer all the revenue and expense account balances (income statement items) to a clearing or suspense acc called income summary

posting closing entries
totals, balances, and double-underlines the temporary accs/ for permanent accs draw a single underline beneath the current period entries

post-closing trial balance
after closing
to prove the equality of the permanent acc balances that the company carries forward into the next accounting period
only contain permanent -bal sheet- accs

reversing entries -optional