As of the census of 2000, there were 4,974 people, 1,432 households, and 1,151 families residing in the city. The population density was 894.1 people per square mile (345.4/kmÂ²). There were 1,485 housing units at an average density of 266.9 per square mile (103.1/kmÂ²). The racial makeup of the city was 52.21% White, 1.43% Black or African American, 1.23% Native American, 0.46% Asian, 0.16% Pacific Islander, 40.79% from other races, and 3.72% from two or more races.
Closing entries are journal entries made at the end of an accounting period which transfer the balances of temporary accounts to permanent accounts. Closing entries are based on the account balances in an adjusted trial balance. The permanent account to which balances are transferred depend upon the type of business.
Closing Entries. Closing entries, also called closing journal entries, are entries made at the end of an accounting period to zero out all temporary accounts and transfer their balances to permanent accounts. In other words, the temporary accounts are closed or reset at the end of the year. This is commonly referred to as closing the books. Temporary accounts are income statement accounts that are used to track accounting activity during an accounting period. For example, the revenues account records the amount of revenues earned during an accounting period not during the life of the company.