Why is it necessary to close temporary capital accounts at the end of a fiscal period?
Adjusting and Closing Entries
Post-Closing Trial Balance
What is the purpose of the Income Summary account?
What is the relationship between the Income Summary account and the capital account?
How are temporary accounts closed?
What is the purpose of a post-closing trial balance?
How is a post-closing trial balance prepared?
closing entries, Income Summary account,
post-closing trial balance
WebQuest, Chapter 10, http://accounting.smartpros.com/x12212.xml ("Managing Stress in the Workplace")