(L.OBJ. 2, 3) Using a partial work sheet and preparing closing entries [15-25 min] The...

(L.OBJ. 2, 3) Using a partial work sheet and preparing closing entries [15-25 min]

The adjusted trial balance from the September work sheer of Paul Sign Company follows:

Requirement

1. Journalize Paul’s closing entries at September 30.

2. How much net income or net loss did Paul earn for September? How can you tell?