Ch.8-Key Terms Word Scramble
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Term | Definition |
Adjusting Entries | Journal entries recorded to update general ledger accounts at the end of a fiscal period. |
Permanent Accounts | Accounts used to accumulate information form one fiscal period to the next. |
Temporary Accounts | Accounts used to accumulate information until it is transferred to the owner's capital account. |
Closing Entries | Journal entries used to prepare temporary accounts for a new fiscal period. |
Post-closing Trial Balance | A trial balance prepared after the closing entries are posted. |
Accounting Cycle | The series of accounting activities included in recording financial information for a fiscal period. |
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adriant
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