Q1) Adjusted trial balance columns of worksheet for Goode Company are given below.
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
|
|
|
|
|
Complete worksheet.
Worksheet data for Goode Company are presented in E4-2.
(a) Journalize closing entries at April 30.
(b) Post closing entries to Income Summary and Retained Earnings. Use T accounts.
(c) Make a post-closing trial balance at April 30.