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Name Date CLOSING THE LEDGERObjectives After completing this chapter, you should be able to:1. Journalize the closing entries. 2. Post the closing entries to the general ledger accounts. 3. Prepare
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The closing form ledger is a document that summarizes all transactions and financial activities of a business at the end of an accounting period.
All businesses and organizations that have financial transactions are required to file a closing form ledger.
To fill out a closing form ledger, you need to record all the financial transactions, account balances, and any adjustments made during the accounting period.
The purpose of a closing form ledger is to provide a clear and accurate summary of a business's financial activities for a specific period.
The closing form ledger must report all financial transactions, account balances, adjustments, and any other relevant financial information for the accounting period.
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