The Closing Process - Acc 311, The University of Texas

in Chapter 4 (Video 9 of 9)

11 minutes

The Closing Process isn't hard. I dare say that it's even fun. I'll show you why.

This Video Mentioned Some Formulas

Contributed Capital

+ Retained Earnings

Shareholder's Equity (or Owner's Equity)

Beginning RE

+ Net Income

– Dividends

Ending RE

Revenues

– Expenses

Net Income

1	Accruals and Deferrals	15:07
2	What is an Adjusting Entry?	4:11
3	Adjusting Entry: Supplies	1:54
4	Adjusting Entry: Wages	4:52
5	Adjusting Entry: Unearned Revenue	2:11
6	Adjusting Entry: Interest	2:03
7	Contra-accounts	4:40
8	Depreciation	7:10
9	The Closing Process You are here.	10:37

	Click Here to View All Chapter 4 Problems at Once	View
1	Adjusting Entry Identification	Easy
2	Closing Journal Accounts	Easy
3	Revenue Journal Entry	Easy
4	Revenue Recognition	Easy
5	Adjusting Entry - Salaries Payable	Moderate
6	Adjusting Entry - Wage Expense	Moderate
7	Closing Process	Moderate
8	Prepaid Rent	Moderate
9	Revenue Recognition	Moderate
10	Adjusting Journal Entries	Hard
11	Adjusting Journal Entries	Hard
12	The Effect of Transactions	Hard
13	When You Forget to do Adjusting Entries	Hard
14	Year End Closing & Account Classification	Hard