closing rank of iiser 2008

A closing paragraph about any subject will depend on what has been written in the body of the text. So unless I know what has been written before the closing paragraph I cannot write a relevant closing paragraph.

Closing journal entries are dated as of the last day of the financial year that you are closing. For example, it you use a calendar year and are closing the period from January 1, 2012 through December 31, 2012, your closing entries would be as of "December 31, 2012."

If you had a fiscal year which ran (for example) from October 1, 2011 through September 30, 2012, your "fiscal year 2012" closing entries would be dated "as of" September 20, 2012, because that is the last day of the financial year that you are closing, even if you physicially make the entries after that date.

blockade

Closing entries should be journalized and posted. They are entered in the general journal, as well as posted in the general ledger.