Question Help The adjusted trial balance of Stanley Sign Company follows: m (Click the icon to view the adjusted trial balance) Requirements 1. Assume Stanley Sign Company has a January 31 year-end. Joumalice Stanley's closing entries at January 31 2. How much net income or not loss did Stanley Sign Company earn for the year ended January 317 How can you tell? Requirement 1. Assume Stanley Sign Company has a January 31 year-end. Journalice Starley's closing entries at January 31. Record debits first, then credits Select the explanation on the last line of the journal entry table) First, close revenues Date Accounts and Explanation Debit Credit Jan. 31 Next, close the expense accounts Date Accounts and Explanation Debit Credit Jan. 31 Next, close the expense accounts. Date Accounts and Explanation Debit Credit Jan. 31 the mommon account Close the Income Summary account. Date Accounts and Explanation Debit Credit Jan. Finally, close the Dividends account. Date Accounts and Explanation Debit Credit Jan. Requirement 2. How much net income or net loss did Stanley Sign Company earn for the year ended January 31? How can you tell? The company had ofs . We know this because exceeded when it was closed. by this amount and this was the balance in Requirement 2. How much net income or net loss did Stanley Sign Company earn for the year ended January 31? How can you tell? of $ We know this because exceeded when it was closed. ce in The company had by this amount and ! net income Choose from any list a net loss mber in the input fields and then continue to the next question. Requirement 2. How much net income or not loss did Stanley Sign Company earn for the year ended January 31? How can you tell? exceeded The company had of $ We know this because by this amount and this was the balance in service revenue Choose from any list or enter any number in the input fields and then co total expenses estion Requirement 2. How much net income or net loss did Stanley Sign Company earn for the year ended January 31? How can you tell? exceeded The company had of $ MARINU We know this because by this amount and this was the balance in when it was closed Choose from any list or enter any number in the input fields and then continue to the next question service revenue total expenses Requirement 2. How much net income or net loss y earn for the year ended January 31? How can you tell? Dividends Income Summary Service Revenue The company had of $ by this amount and this was the balance in exceeded when it was closed. Data Table mnd. any Stanley Sign Company Adjusted Trial Balance January 31, 2018 Balance Credit Debit 15,600 1,400 1,300 45,000 UN Account Title Cash Office Supplies Prepaid Rent Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Dividends Service Revenue 6,000 4,200 200 4,100 5,400 33,600 Stanley 700 e know 17,600 1,400 1,300 45,000 Office Supplies Prepaid Rent Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) 6,000 4,200 200 4,100 5,400 33,600 Common Stock Dividends 700 Service Revenue 17,600 4,600 1,000 Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense 200 400 900 Utilities Expense Total 71,100 $ 71,100
