5 thoughts on “Adjusting-Closing Procedures and Its Journal Entry”

  1. I always rely on you knowledge, Thanks so much


    I post all my transactions in Simply, how to post the inventory jr at the end of the year? and the WIP jobs?

  2. It’s been four years since Chris asked why it is $300 instead of $400 when closing the capital and drawing accounts. Shouldn’t it be changed to $400? Also, I see a debit instead of a credit in the April 30th example for adjusting decreased supplies.

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