me ajusted trial balance of Spanelli Sign Company follows:

View the adjusted trial balance.

Requirements

Assume Spanelli Sign Company has a January $31$ year$-$end. Journalize Spanelli Sign Company's closing entries at January $31.$

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

Finally, close the Dividends account.

Requirement $2.$ How much net income or net loss did Spanelli Sign Company earn for the year ended January $31?$ How can you tell?

Start by identifying the amount of net income or loss for the year ended January $31.($Enter a loss with a minus sign or parentheses.$)$

Net income $($loss$)=$

How can you tell?

We know this because

exceeded

by this amount and this was the balance in

when it was closed. Adjusted trial balanceThe adjusted trial balance of Spanelli Sign Company follows:

View the adjusted trial balance.

Requirements

Assume Spanelli Sign Company has a January $31$ year$-$end. Journalize Spanelli Sign Company's closing entries at January $31.$

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

Requirement $1.$ Assume Spanelli Sign Company has a January $31$ year$-$end. Journalize Spanelli Sign Company's closing entries at January $31.($Record debits first, then

credits. Select the explanation on the last line of The journal entry table. Check your spelling carefully and do not abbreviate. When applicable, use only the account names

provided in the problem statement and the Income Summary or the Retained Earnings account.$)$

First, close revenues.

Next, close the expense accounts.