An end-of-period spreadsheet includes columns for
A) adjusting entries
B) closing entries
C) reversing entries
D) adjusting and closing entries

Question

Quizplus · Accepted Answer

An end-of-period spreadsheet includes columns for adjusting entries, which are made to update the accounts before preparing the financial statements. Closing entries are not included in the end-of-period spreadsheet; they are made after the financial statements are prepared to reset the balances of temporary accounts for the next period. Reversing entries are optional and typically made at the beginning of the next period, not included in the end-of-period spreadsheet.

An End-Of-Period Spreadsheet Includes Columns for