The adjusted trial balance columns of the worksheet for Goode Company are as follows.
GOODE COMPANY
Worksheet (partial)
For the Month Ended April 30, 2008
|
Adjusted Trial Income |
||||||
|
|
Balance |
Statement |
Balance Sheet |
|||
|
Account Titles |
DEBIT |
CREDIT |
DEBIT |
CREDIT |
DEBIT |
CREDIT |
|
Cash |
13,752 |
|
|
|
|
|
|
Accounts Receivable |
7,840 |
|
|
|
|
|
|
Prepaid Rent |
2,280 |
|
|
|
|
|
|
Equipment |
23,050 |
|
|
|
|
|
|
Accumulated Depreciation |
|
4,921 |
|
|
|
|
|
Notes Payable |
|
5,700 |
|
|
|
|
|
Accounts Payable |
|
5,672 |
|
|
|
|
|
Common Stock |
|
25,000 |
|
|
|
|
|
Retained Earnings |
|
5,960 |
|
|
|
|
|
Dividends |
3,650 |
|
|
|
|
|
|
Service Revenue |
|
15,590 |
|
|
|
|
|
Salaries Expense |
10,840 |
|
|
|
|
|
|
Rent Expense |
760 |
|
|
|
|
|
|
Depreciation Expense |
671 |
|
|
|
|
|
|
Interest Expense |
57 |
|
|
|
|
|
|
Interest Payable |
|
57 |
|
|
|
|
|
Totals |
62,900 |
62,900 |
|
|
|
|
Instructions
Complete the worksheet.
Worksheet data for Goode Company are presented in E4-2.
Instructions
(a) Journalize the closing entries at April 30.
(b) Post the closing entries to Income Summary and Retained Earnings. Use T accounts.
(c) Prepare a post-closing trial balance at April 30.
