E4-21 (similar to) Question Help i Data Table The adjusted trial balance of Smith Sign Company follows: (Click the icon to view the adjusted trial balance.) Requirements 1. Assume Smith Sign Company has a January 31 year-end. Journalize Smith's closing entries at January 31. 2. How much net income or net loss did Smith Sign Company earn for the year ended January 31? How can you tell? Balance Debit Credit 15,000 1,100 $ Requirement 1. Assume Smith Sign Company has a January 31 year-end. Journalize Smith's closing entries at January 31. (RE 700 First, close revenues. 52,000 Date Accounts and Explanation Debit Credit Account Title Cash Office Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Equipment Jan. 31 6,300 3,900 500 5,000 4,300 40,300 900 16,500 Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense 4,400 1,500 300 200 700 Iltilities Evansa E4-21 (similar to) Question Help i Data Table The adjusted trial balance of Smith Sign Company follows: (Click the icon to view the adjusted trial balance.) Requirements 1. Assume Smith Sign Company has a January 31 year-end. Journalize Smith's closing entries at January 31. 2. How much net income or net loss did Smith Sign Company earn for the year ended January 31? How can you tell? Balance Debit Credit 15,000 1,100 $ Requirement 1. Assume Smith Sign Company has a January 31 year-end. Journalize Smith's closing entries at January 31. (RE 700 First, close revenues. 52,000 Date Accounts and Explanation Debit Credit Account Title Cash Office Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Equipment Jan. 31 6,300 3,900 500 5,000 4,300 40,300 900 16,500 Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense 4,400 1,500 300 200 700 Iltilities Evansa