E4-19 Preparing a worksheet

Learning Objective 2

The unadjusted trial balance of Data Solution at November 30, 2018, follows:

Additional information at November 30, 2018:

Accrued Service Revenue, $800.

Depreciation, $350.

Accrued Salaries Expense, $650.

Prepaid Rent expired, $700.

Office Supplies used, $550.

Requirements

Complete Data Solutions worksheet for the month ended November 30, 2018.

How much was net income for November?

E4-21 Preparing closing entries from an adjusted trial balance

Learning Objective 3

The adjusted trial balance of Stone Sign Company follows:

Requirements

Assume Stone Sign Company has a January 31 year-end. Journalize Stones closing entries at January 31.

How much net income or net loss did Stone Sign Company earn for the year ended January 31? How can you tell?