The adjusted trial balance from the January worksheet of Silver Sign Company follows:

Requirements
1. Journalize Silver€™s closing entries at January 31.
2. How much net income or net loss did Silver earn for January? How can youtell?

Transcribed Image Text:

SILVER SIGN COMPANY Partial Worksheet Month Ended January 31, 2012 Adjusted Trial Balance Debit Credit Account Cash Supplies Prepaid rent Equipment Accumulated depreciation Accounts payable Salary payable Uncarned service revenue Note payable, long-term Silver, capital Silver, drawing Service revenue Salary expense Rent expense Depreciation expense Supplies expense Utilities expense Total $14,300 2,400 1,400 45,000 6,100 4,500 300 4,500 5,300 32,600 800 16,800 3,600 1,400 400 200 600 S70,100 $70,100