44 $\degree$ 41' 25"
+137 $\degree$ 26' 38

question 1

Short Answer

44 $\degree$ 41' 25"
+137 $\degree$ 26' 38"

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Definitions:

Closing Entries

A set of journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Revenue Account

An account that tracks the income earned by a company, including sales revenue, services revenue, and interest income.

Adjusted Balances

Balances reported in financial statements that have been modified for any adjustments, like accruals or prepayments, to reflect true values.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income or loss.