Closing entries are dated in the journal as of
A) the date they are actually journalized, although they are generally prepared after the end of the accounting period
B) the last day of the accounting period, although they are actually journalized after the end of the accounting period
C) the first day of the accounting period, although they are actually journalized after the end of the accounting period
D) the first day of the subsequent accounting period

Question

Quizplus · Accepted Answer

Closing entries should always be dated as of the last day of the accounting period being closed. Even though they may not be journalized until after the end of the period, the date on the entry should reflect the proper accounting period.

Closing Entries Are Dated in the Journal as of