The adjusted trial balance of Sturdy Office Systems at March 31, 2025, follows: 

Requirements 

1. Journalize the required closing entries at March 31, 2025. 

2. Set up T-accounts for Income Summary; Retained Earnings; and Dividends. Post the closing entries to the T-accounts and calculate their ending balances. 

3. How much was Sturdy Office Systems’ net income or net loss?

Transcribed Image Text:

STURDY OFFICE SYSTEMS Adjusted Trial Balance March 31, 2025 Account Title Cash Accounts Receivable Merchandise Inventory Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total Balance Debit $ 4,100 13,800 31,300 6,100 42,200 40,000 1,500 1,900 93,600 27,600 14,600 2,000 $ 278,700 Credit $ 13,100 9,000 500 8,000 14,000 100 234,000 $ 278,700