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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

Set of changes that occur slowly and naturally. perform mechanical or chemical operations on.

prepare

/prəˈper/

verb

make ready for use or consideration.

statement

/ˈstātmənt/

noun

definite or clear expression of something in speech.

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. To add up to a certain figure.

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. come into forcible contact with another object.

unaffected

/ˌənəˈfektəd/

adjective

feeling or showing no effects or changes.

accounts

/əˈkount/

noun other verb

report or description. Invoices for things bought. consider or regard.

exception

/ikˈsepSH(ə)n/

noun

Something different or not included.

operating

/ˈäpəˌrāt/

verb

To control or manage something, such as a business.

permanent

/ˈpərmənənt/

adjective noun

lasting or intended to last or remain unchanged indefinitely. perm for hair.

reported

/rəˈpôrdəd/

adjective verb

having been formally announced. To state something officially.

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