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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd2096fe4-6a76-40ca-9b5d-47e4ab1a0bcf%2F572f9660-fb2c-4b9f-980f-d7057b3a94f4%2Fr1c5lq_processed.png&w=3840&q=75)
Transcribed Image Text: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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd2096fe4-6a76-40ca-9b5d-47e4ab1a0bcf%2F572f9660-fb2c-4b9f-980f-d7057b3a94f4%2Fq1a9u8_processed.png&w=3840&q=75)
Transcribed Image Text: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
AI-Generated Solution
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education