The Closing Process - Acct 209, Texas A&M

in Chapter 4 (Video 1 of 8)

11 minutes

The Closing Process isn't hard. I dare say that it's even fun. I'll show you why.

This Video Mentioned Some Formulas

Contributed Capital

+ Retained Earnings

Shareholder's Equity (or Owner's Equity)

Beginning RE

+ Net Income

– Dividends

Ending RE

Revenues

– Expenses

Net Income

1	The Closing Process You are here.	10:37
2	The Classified Balance Sheet	4:48
3	Current Assets	9:57
4	Non-Current Assets	10:25
5	Current Liabilities	6:24
6	Non-Current Liabilites	2:00
7	Contributed Capital	5:10
8	Ratios: Current Ratio	4:00

	Click Here to View All Chapter 4 Problems at Once	View
1	Closing Journal Accounts	Easy
2	Current Assets	Easy
3	Effect on the Current Ratio	Easy
4	Closing Process	Moderate
5	Solving for Missing Amounts	Moderate
6	Account Classifications	Hard
7	Year End Closing & Account Classification	Hard