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ZIMSEC O-Level Principles of Accounting

9.3Closing entries

Closing entries in ZIMSEC O-Level Principles of Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic18 practice questions1 lesson
Practise this topicAll Principles of Accounting topics

Overview

Form 3 (scope and sequence).

Learning objectives

What the syllabus expects you to be able to do.

  1. 9.3.1Form 3: make the closing entries that transfer income and expenses to the income statement.

Lessons

  • Closing entries: transferring balances at the year end

    35 min

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Sample question

A sample question on this topic. Answer it, check it, then read the worked answer.

Closing entries: sample question

1 mark

At the year end the rent paid account has a debit balance of US$2,880. Which entry closes it?

Choose one answer

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