closing balance meaning
noun [C, usually sing.]
the balance shown in an account at the end of an accounting period ⇨ OPENING BALANCE
The debit or credit balance on a ledger at the end of an accounting period, which will appear on the balance sheet at that date and will be carried forward to the next accounting period. A debit closing balance (such as an accrual) will be carried forward to the credit side of a ledger and a credit closing balance (such as a prepayment) will be carried forward to the debit side of a ledger.
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- The levels of these four ions in the blood are usually kept in close balance by the kidneys and endocrine system.
- Approval for opposition Labor leader Simon Crean rose two points in the close balanced electorates, from 26 percent to 28 percent.
- Among his highest priorities, Fong includes increased spending on the military, a flat income tax and a closer balance between environmental and economic policy.
- Due to the closer balance between the two parties in the House, the Republican leadership worked hard to limit the number of defections from conservative Republicans.
- "My So-Called Life " focuses on teen times, but it manages a reasonably close balance between a pair of generationally divided questions: