Another common cause of heel and calf pain is Achilles Tendinitis. Symptoms are frequently described as an aching pain in the back of the lower leg and just above the heel. This sensation is typically worse after exercise and upon first waking up in the morning.
Closing Entry. Loading the player... What is a 'Closing Entry'. A closing entry is a journal entry made at the end of the accounting period in which data is moved into the permanent accounts on the balance sheet from temporary accounts on the income statement.
3) A debit for the total amount of the entry to close the cost account, Purchases, and the expense accounts. The balance of Income Summary is the net income/loss for the fiscal period. Closing entry to record net income or loss and close the income summary account (pg. 442) Net income increases the partnersâ equity and, therefore, must be credited to the partnersâ capital accounts.