ACCT 201 at Towson University

11. The Closing Process

in Topic 4 (Video 11 of 11)
The Closing Process isn't hard. I dare say that it's even fun. I'll show you why.

This Video Mentioned Some Formulas

Contributed Capital
+ Retained Earnings
Shareholder's Equity (or Owner's Equity)
Beginning RE
+ Net Income
– Dividends
Ending RE
Revenues
– Expenses
Net Income

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