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This assignment has 2 parts, as follows:
Please explain the purpose of adjusting entries and closing entries. In a 1-2-page paper, not including the title and reference pages, detail what each accomplishes, and give examples of each.
Please journalize the closing entries from the attached 10-column worksheet. Use the attached template to complete your General Journal.
Analyze and interpret a set of financial statements.
Describe the language, concepts and use of financial accounts and reports.
Identify and use the sources of accounting data and information.
Identify the users of financial accounting information and the types of decisions made by users.
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