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Accounting Cycle Step 8: Closing Entries to Income Summary for Sole-Proprietorships

6,917 views

ProfAlldredge

Video Language:

  • English

Caption Language:

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

Accent:

  • English (US)

Speech Time:

98%
  • 5:56 / 6:02

Speech Rate:

  • 137 wpm - Conversational

Category:

  • Education

Tags :

Intro:

Video Vocabulary

entries

/ˈentrē/

noun other

act of entering. People or things included in a competition or race.

companies

/ˈkəmp(ə)nē/

noun other verb

commercial business. Businesses that sell things or provides services. associate with.

reported

/rəˈpôrdəd/

adjective verb

having been formally announced. To officially present yourself on arrival.

impacts
noun other verb

action of one object striking another. Acts or forces of one thing hitting something else. come into forcible contact with another object.

whether

/ˈ(h)weT͟Hər/

conjunction

If something will happen or not.

transferred
verb

To move something from one place to another.

learned

/ˈlərnəd/

adjective verb

having acquired much knowledge through study. To get knowledge or skills by study or experience.

journal

/ˈjərnl/

noun verb

Magazine of academic papers. write in journal or diary.

revenues

/ˈrevəˌn(y)o͞o/

noun other

income. Monies that are made by or paid to a business.

different

/ˈdif(ə)rənt/

adjective

Not of the same kind; unlike other things.

withdrawals

/wiT͟Hˈdrôl/

noun other

action of withdrawing something. Action of pulling back or move away or backward.

decrease
noun verb

Amount by which something has been reduced. make or become smaller or fewer.

financial

/fəˈnan(t)SHəl/

adjective noun

Involving money. organization's finances.

statement

/ˈstātmənt/

noun

definite or clear expression of something in speech.

increase
noun verb

rise in size, amount, or degree of something. To make or become larger in size or amount.

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