The adjusted trial balance of Silver Sign Company follows:

Requirements
1. Assume Silver Sign Company has a January 31 year end. Journalize Silver’s closing entries at January 31.
2. How much net income or net loss did Silver earn for the year ended January 31? How can youtell?

Transcribed Image Text:

SILVER SIGN COMPANY Adjusted Trial Balance January 31, 2014 Balance Account Title Cash Office Supplies Prepaid Rent Equipment Debit 14,300 2,400 1,400 45,000 Credit 5 6,100 4,500 300 4,500 S,300 32,600 Accounts Payatle Salaries Payable Unearned Revenue Notes Payable long-term) Common Stock Dividends Service Revenue Salaries Expense Rent Expense Deprecdation Expense quipment Supplies Expense Utilities Expense Total 800 16,800 3,600 1,400 400 200 600 $ 70,100 70,100