1. 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