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6 Cards in this Set
- Front
- Back
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adjusting entries
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- journal entries recording to update general ledger accounts at the end of a fiscal period
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permanent accouts
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- accounts used to accumulate information from one fiscal period to the next
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temorary accounts
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- accounts used to sccumulate information untill it is tranferred to the owner's capital account
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closing entries
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- jourmal entries for a new fiscal period
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post-closing trial balance
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- a trial balance prepared after the closing entries are posted
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accounting cycle
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- the series of accounting activities included in recording financial information for a fiscal period
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