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What does the informal side of bureaucracy consist of?
Closing Entries
Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent accounts, closing out the period.
Retained Earnings
Profits that a company has earned to date, less any dividends or other distributions to shareholders, reinvested in the business or kept as reserve.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, thus preparing the books for the next period.
Adjusted Trial Balance
An enumeration of every account and its balance following adjustment entries, employed in the development of financial reports.
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