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Accounting Cycle Step 8: Closing Entries to Income Summary for Corporations

14,342 views

ProfAlldredge

Video Language:

  • English

Caption Language:

  • {{captionLanguage | language_name}} ({{captionLanguage}})

Accent:

  • English (US)

Speech Time:

98%
  • 5:42 / 5:47

Speech Rate:

  • 152 wpm - Fast

Category:

  • Education

Tags :

Intro:

Video Vocabulary

process

/ˈpräˌses/

noun verb

series of actions towards achieving something. To deal with official forms in the way required.

prepare

/prəˈper/

verb

To make something ready for use.

statement

/ˈstātmənt/

noun

Act or process of saying something formally.

actually

/ˈak(t)SH(o͞o)əlē/

adverb

as truth or facts.

decreased
verb

make or become smaller or fewer.

amounts

/əˈmount/

noun other verb

quantity. (Values) added up to a certain figure. To add up to a certain figure.

entries

/ˈentrē/

noun other

act of entering. Pieces of information entered into a computer.

closing

/ˈklōziNG/

adjective verb

bringing something to end. To come progressively nearer to something.

impacts
noun other verb

action of one object striking another. Acts or forces of one thing hitting something else. To affect someone or something greatly.

unaffected

/ˌənəˈfektəd/

adjective

feeling or showing no effects or changes.

accounts

/əˈkount/

noun other verb

report or description. Descriptions, often written, of events; reports. consider or regard.

exception

/ikˈsepSH(ə)n/

noun

person or thing that is excluded from general statement.

operating

/ˈäpəˌrāt/

verb

To control or handle something, such as a machine.

permanent

/ˈpərmənənt/

adjective noun

Lasting forever; not temporary or changing. perm for hair.

reported

/rəˈpôrdəd/

adjective verb

having been formally announced. To submit a report or bill to the government.

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