[amy87]

Are these included in a closing general journal? :
Bad debts? (allowance for bad debts are also included in the trial balance)
Prepaid expenses? (with no explanation of what these items were)
Prepaid income? (with no explainations of what these items were)
Accrued expenses? (with no explianations of what these items were)

Rent income??

Please help! Thanks :)

[pready]

Balance sheet items are not closed out, but Income Statement accounts are closed out at the end of the accounting period.

[amy87]

So prepaid income and rent income are included in the closing general journal?? Even if it doesn't tell me where they came from? If so how would I include them, because the profit and loss part only includes expenses right?

[pready]

Prepaids are a balance sheet item because you have not expensed them yet. Rent Income is a revenue account and will appear on the Income Statement.