India Accounting equation adjustment entries or Journal entries ?


Ad

Advertisements

Ad

Advertisements

Joined
Jan 19, 2019
Messages
18
Reaction score
0
Country
India
@codystudent ,

At the end of the year after preparing trial balance a list of unrecorded items is prepared which is called list of adjustment for which adjustment entries are passed. Now closing entries will be passed. The purpose of closing entries is to close all those accounts which comes in trading and profit & Loss and these accounts are mainly related to expenses , incomes and goods.
Thanks a lot
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

Adjusting Journal Entries? 1
Question on journal/adjusting entries 3
Adjusting journal entry help plssss. 2
USA adjusting entries 2
Adjusting entries 0
Adjusting Entries 3
New Zealand Adjusting entries 0
Adjusting Entry 2

Top