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URL:https://www.learndesk.us/class/6070885985288192/lesson/5ae241d2ba2bfe57e5c61b09d89a8c41?ref=outlook-calendar
SUMMARY:Closing Entries
DTSTART;TZID=America/Los_Angeles:20260516T190000
DTEND;TZID=America/Los_Angeles:20260516T200000
LOCATION:https://www.learndesk.us/class/6070885985288192/lesson/5ae241d2ba2bfe57e5c61b09d89a8c41?ref=outlook-calendar
DESCRIPTION: In this lesson, Justin explains the concept around the closing entry and how in order for a balance sheet to balance you need to include this missing component to ensure the financials have integrity. The concept is quite simple in that your opening retained earnings does not include any profits for the current period or any dividends declared or paid. So in order to ensure you have a proper 'balanced' balance sheet you need to transfer these balances into retained earnings.

https://www.learndesk.us/class/6070885985288192/lesson/5ae241d2ba2bfe57e5c61b09d89a8c41?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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DESCRIPTION:Class Reminder
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