Solution-Explain what are the steps in the closing process

Explain what are the steps in the closing process

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Reference no: EM132703125

Problem 1: What are the steps in the closing process? How and why is the income summary account used in this process? Are all accounts closed out or just certain accounts and why? What is the final step to complete to ensure the accounts are still in balance after closing?

Reference no: EM132703125

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Explain what are the steps in the closing process

Reference no: EM132703125

Reference no: EM132703125

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