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closing balance meaning

  "closing balance" in a sentence
  • [Business]
    noun [C, usually sing.]

    (Accounting )

    the balance shown in an account at the end of an accounting period OPENING BALANCE


  • [Economics]
    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.

Examples

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  1. The levels of these four ions in the blood are usually kept in close balance by the kidneys and endocrine system.
  2. Approval for opposition Labor leader Simon Crean rose two points in the close balanced electorates, from 26 percent to 28 percent.
  3. Among his highest priorities, Fong includes increased spending on the military, a flat income tax and a closer balance between environmental and economic policy.
  4. 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.
  5. "My So-Called Life " focuses on teen times, but it manages a reasonably close balance between a pair of generationally divided questions:

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