Q! the firstly, a sole treader refers to an individual performing bussiness considered as a single entity, also called a sole proprietorship. at the end of an accounting period, incom summary to capital account, owners equity account, revenues and expense accounts are closed. the above mentioned accounts are temporary in nature and their ledger balances are brought to zero to be closed at the end of every Q! the firstly, a sole treader refers to an individual performing bussiness considered as a single entity, also called a sole proprietorship. at the end of an accounting period, incom summary to capital account, owners equity account, revenues and expense accounts are closed. the above mentioned accounts are temporary in nature and their ledger balances are brought to zero to be closed at the end of every