Examlex
In the landmark case of Atkins v.Virginia (2002) ,the U.S.Supreme Court ruled-consistent with laws already in effect in many states-that
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary accounts’ balances to permanent ones, resetting the temporary accounts for the next period.
Journalized
The process of recording transactions in a company's journal, marking the first step in the accounting process.
End-Of-Period Spreadsheet
A financial statement prepared at the conclusion of an accounting period, summarizing the income, expenses, and adjustments to accounts.
Retained Earnings
Retained earnings are the portion of a company's net income that is kept within the company instead of being paid out to shareholders as dividends, often used for reinvestment in the business or to pay down debt.
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