Examlex
What does trade dress refer to?
Salaries Expense
The total amount recorded by a company for the salaries of its employees.
Salaries Payable
An account reflecting the debts to workers for performed but unpaid work.
Closing Entry
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, ultimately resetting the balances of temporary accounts to zero.
Income Summary
An account used in the closing process that summarizes the results of operations by collecting all revenue and expense account balances before determining the net income or loss.
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