The adjusted trial balance of Egan Sign Company follows: View the adjusted trial balance. Requirements 1. Assume EganSign Company has a January31year-end. Journalize EganSign Company's closing entries at January31. 2. How much net income or net loss did EganSign Company earn for the year ended January31PHow can you tell? Requirement 1. Assume Egan Sign Company has a January 31 year-end. Journalize Egan 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.) First, close revenues. Jan. Date 31 Accounts and Explanation Debit Credit Adjusted Trial Balance Question Viewer Account Title Cash Supplies Prepaid Rent January 31, 2025 Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Egan, Capital Egan, Withdrawals Service Revenue Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense Utilities Expense Total Balance Debit Credit 15,700 1,600 1,500 55,000 5,000 4,900 200 4,300 5,800 45,700 700 16,900 5,000 1,600 300 400 1,000 82,800 $ 82,800

The adjusted trial balance of Egan Sign Company follows: View the adjusted trial balance. Requirements 1. Assume EganSign Company has a January31year-end. Journalize EganSign Company's closing entries at January31. 2. How much net income or net loss did EganSign Company earn for the year ended January31PHow can you tell? Requirement 1. Assume Egan Sign Company has a January 31 year-end. Journalize Egan 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.) First, close revenues. Jan. Date 31 Accounts and Explanation Debit Credit Adjusted Trial Balance Question Viewer Account Title Cash Supplies Prepaid Rent January 31, 2025 Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Egan, Capital Egan, Withdrawals Service Revenue Salaries Expense Rent Expense Depreciation Expense-Equipment Supplies Expense Utilities Expense Total Balance Debit Credit 15,700 1,600 1,500 55,000 5,000 4,900 200 4,300 5,800 45,700 700 16,900 5,000 1,600 300 400 1,000 82,800 $ 82,800

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter4: Income Measurement And Accrual Accounting

Section: Chapter Questions

Problem 4.28E

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