Lifetime Income Calculator U S. Department of Labor
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Read articleClosing Entry: What It Is and How to Record One
The third entry closes the Income Summary account to Retained Earnings. The fourth entry closes the Dividends account to Retained Earnings. The information needed to prepare closing entries comes from the adjusted trial balance. Example of Closing Entry The month-end close is when a business collects financial accounting information. Using the above steps, let’s go…
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