The researchers said these diseases will account for nearly $500 billion in total health care spending. Current estimates suggest that the yearly medical cost of adult obesity today is between $147 billion and $210 billion, the study said.he researchers said these diseases will account for nearly $500 billion in total health care spending. Current estimates suggest that the yearly medical cost of adult obesity today is between $147 billion and $210 billion, the study said.
In addition, the adjustments tend to be forced upon the accountant because the accounting cycle is coming to an end. and the financial statements need to be prepared. Closing entries occur at the end of the accounting cycle as well. These entries are made in order to. prepare for a new accounting cycle. For example, we do not want to carry over the amounts in cost of. goods sold expense account into the next cycle. Rather, we want that account to start fresh from a zero. balance.
RELATED ARTICLES. An important part of closing the accounting books for your business is posting to the General Ledger any corrections or adjustment entries you find as you close the journals. This type of posting consists of a simple entry that summarizes any changes you found.