Answers
Answers
Answers
### 1. **Key Journal Entries for Period‐End and Year‐End Financial Closing in
SAP**
**Answer**:
‐ Record accrued expenses for costs incurred but not yet billed (e.g., utilities,
rent).
‐ Adjust payroll expenses to include salaries and related employee benefits.
‐ Post depreciation and amortization for fixed and intangible assets.
‐ Make provisions for outstanding liabilities such as bonuses or pending
invoices.
‐ Reverse previous period accruals and adjust balances to match actual
figures.
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