Finicade
Bookkeeper Lv 1
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Level 9 · ◆◆ · ~10 min

Closing the Books

Temporary accounts, retained earnings and the statement of stockholders' equity.

"At year end the income statement accounts are emptied into retained earnings, so next year starts from zero."

closing entriesRetained Earningstemporary accountspermanent accountsstatement of stockholders' equitydividendspost-closing trial balanceaccounting cycle
🚀 You're jumping ahead. This builds on Adjusting Entries — but play it now and you'll still earn full XP. If it feels steep, those make a gentler on-ramp.

A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.