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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

Dealing with official forms in the way required. To adopt a set of actions that produce a result.

prepare

/prəˈper/

verb

make ready for use or consideration.

statement

/ˈstātmənt/

noun

Act or process of saying something formally.

actually

/ˈak(t)SH(o͞o)əlē/

adverb

Used to add new (often different) information.

decreased
verb

To reduce the size, amount or number of something.

amounts

/əˈmount/

noun other verb

quantity. (Values) added up to a certain figure. come to be total.

entries

/ˈentrē/

noun other

act of entering. Piece of information in a database, dictionary etc..

closing

/ˈklōziNG/

adjective verb

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

impacts
noun other verb

action of one object striking another. Very strong influences. To hit or strike someone or something with force.

unaffected

/ˌənəˈfektəd/

adjective

Not changed when something happens; natural.

accounts

/əˈkount/

noun other verb

report or description. Arrangements with banks to keep your money for you. consider or regard.

exception

/ikˈsepSH(ə)n/

noun

Something different or not included.

operating

/ˈäpəˌrāt/

verb

To be working or be being used.

permanent

/ˈpərmənənt/

adjective noun

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

reported

/rəˈpôrdəd/

adjective verb

having been formally announced. To write in a newspaper or speak on a news program.

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