BUSINESS HIGH SCHOOL-ACCOUNTING II Closing Entries Post Closing Trial Balance Simulation Review Chapters 1 and 2 Financial Statements Ten-Column Work Sheet Balance Sheet Journalizing Transactions Income Statement Posting Journal Entries Statement of Retained Earnings Special Journals General Journal Subsidiary Ledgers General Ledger Accounting II Essential Learning Expectations-Chapters 1 and 2: Special journals are multicolumn journals used to record specific types of business transactions. A subsidiary ledger contains detailed data summarized in a controlling account in the general ledger. The work sheet is prepared to organize the data needed to update the ledger accounts and prepare financial statements. There are three financial statements prepared at the end of each fiscal period. A Post-Closing Trial Balance reflects the balances of all permanent accounts after closing entries have been posted. Content Vocabulary: Contra Account Controlling Account Operating Expenses Operating Income