1. The closing entries can be (a) taken directly from the worksheet, or (b) developed from the adjusted trial balance, if a worksheet is not prepared. Step 9.

2. Closing entries are journalized , and dated, only at the end of each accounting period.

3. The closing entries can be (a) taken directly from the worksheet, or (b) developed from the adjusted trial balance, if a worksheet is not prepared.

4. Making closing entries , journalizing and posting them in to ledger accounts.

5. A third trial balance usually is taken after the closing entries have been posted.

6. Preparing an after-closing trial balance. Ensuring that the ledger" remains in balance after posting of the closing entries."

7. Closing the accounts includes two processes of journalizing and posting the closing entries.

8. Only the composition of specific owners'equity accounts changes with closing entries.