Project 3
1. Project 3
1.3. Page 3
Project 3: Closing Entries
Time to Practise
Do as many of the following three practice questions as you need to feel confident in completing closing entries before continuing on to Time to Work, which will be submitted for assessment.
If, after completing all three practices, you are still not confident that you know how to complete closing entries, you may redo these practices or see your teacher for help.
Remember that there are four journal entries required for each practice.
- revenue
- expenses
- net income or loss
- drawing
Practice 1
Step 1: Open General Journal Template, and save it in your course folder.
Step 2: Use the following worksheet to complete the closing entries on page three of the general journal.
Microsoft product screen shot(s) reprinted with permission from Microsoft Corporation.
To check your work, go to Koch Moving and Storage General Journal Answer.
If you need more practice, continue on to Practice 2 or Practice 3.
If you are ready to do the assignments for this training room, continue on to Time to Work.
Practice 2
Step 1: Open General Journal Template, and save it in your course folder.
Step 2: Use the following worksheet to complete the closing entries on page nine of the general journal.
Microsoft product screen shot(s) reprinted with permission from Microsoft Corporation.
To check your work, go to CHOO TV General Journal Answer.
If you need more practice, continue on to Practice 3.
If you are ready to do the assignments for this training room, continue on to Time to Work.
Practice 3
Step 1: Open General Journal Template, and save it in your course folder.
Step 2: Use the following worksheet to complete the closing entries on page 12 of the general journal.
Microsoft product screen shot(s) reprinted with permission from Microsoft Corporation.
To check your work, go to Quick Cleaning Company General Journal Answer.
If you are ready to do the assignments for this training room, continue on to Time to Work.