Financial Accounting Discussion Questions!

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**** There is no minium word count for these questions. They DO NOT need to be in APA Format! **** ( I attached chapter for reference) 

DQ# 1

What are the four closing journal entries? Why are these necessary?

DQ#2

What are the steps in completing the accounting cycle? How do the different steps affect the financial statements? What is the effect on the financial statements of missing a step when completing the accounting cycle?

 

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