Quick Quiz Closing Journal

The closing journal is made at the end of the accounting period as a basis for preparing the trial balance at the beginning of the following period. The following accounts that must be made a closing journal are....

• Assets Account

• Equity Account

• Riil Account

• Nominal Account

• Revenue Account

Take a look at the statements below!

1) Close accounts that are temporary

2) Recapitulate the final value that is temporary

3) Knowing the company's final capital balance

4) Make it easy to make financial statements at the end of the period

Based on the above statement which is included in the purpose of the closing journal is....

• 1)

• 1), 2), and 3)

• 1) and 3)

• 2) and 4)

• 1) and 4)

XYZ Company has a profit on its operations of Rp 15.000.000. The closing journal to close the profit is....

• (D) Income summary Rp 15.000.000

  (K) Capital Rp 15.000.000

• (D) Capital Rp 15.000.000

  (K) Income summary Rp 15.000.000

• (D) Prive Rp 15.000.000

  (K) Capital Rp 15.000.000

• (D) Capital Rp 15.000.000

  (K) Prive Rp 15.000.000

• (D) Income summary Rp 15.000.000

  (K) Prive Rp 15.000.000

The balance sheet that is compiled after the nominal / temporary account is closed or zeroed out by making a closing journal is called...

• Closing Journal

• Balance Sheet After Closing

• Balance Sheet After Adjust

• Balance Sheet

• Balance Sheet Temporary

The purpose of preparing the trial balance after closing is....

• To avoid double recording

• To receive back unbooked accounts

• To correct errors

• To readjust the actual account

• To ensure that the general ledger is balanced at the start of the new period

The trial balance after closing shows...

• The final result of the company's operations

• Account balances after all transactions have been recorded

• Account balances ready for the next period

• The company's cash flow statement

• Correction the saldo balance

When posting to the ledger, the final balance of each account will be obtained after....

• Calculating the total transactio

• Closing all accounts

• Adding the debits and credits of the accounts

• Calculating net profit

• Recording the closing journal entry

The company has an initial capital balance of Rp 165.750.000. During its operational activities the company earned a profit of Rp 25.000.000. At the end of the period the company makes a closing journal, the amount written in the capital account ledger is....

• Rp 0

• Rp 190.750.000

• Rp 165.750.000

• Rp 145.750.000

• Rp 190.000.000

Of the steps to make the closing schedule below, the most appropriate is ...

• The purchase transportation expense account which has a debit balance is credited by the profit and loss statement account

• The capital account with a credit balance is credited by the profit and loss account

• The prive account which has a debit balance is credited by the capital account

• The sales return account with a debit balance is creditee by the prodit and loss account

• Account payable that have a credit balance are moved to debit and credit by the profit and loss account

How do you feel when you attended in the class and received the lesson today? describe your experience!