Worksheet data for Goode Company are presented below. GOODE COMPANY Worksheet (P

Question

Worksheet data for Goode Company are presented below.

GOODE COMPANY
Worksheet (Partial)
For the Month Ended April 30, 2010

Adjusted Trial Balance

Account Titles

Dr.

Cr.

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
T. Goode, Capital 30,960
T. Goode, Drawing 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

(a) Journalize the closing entries at April 30. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)


Date Description/Account Debit Credit
Apr. 30

(To close revenue account.)
Apr. 30




(To close expense accounts.)
Apr. 30

(To close net income.)
Apr. 30

(To close drawings.)

(b) Post the beginning balances and closing entries to Income Summary and P. Goode, Capital. (Post entries in the order presented above. If there is no transaction, enter NA as the account and 0 for the amount.)

Income Summary T. Goode Capital



















(c) Prepare a post-closing trial balance at April 30. (If answer is zero, please enter 0. Do not leave any fields blank.)

GOODE COMPANY
Trial Balance
April 30, 2010

Debit

Credit

Cash $ $
Accounts Receivable
Prepaid Rent
Equipment
Accumulated Depreciation
Notes Payable
Accounts Payable
Interest Payable
T. Goode, Capital

$

$

Explanation / Answer

(b) Post the beginning balances and closing entries to Income Summary and P. Goode, Capital. (Post entries in the order presented above. If there is no transaction, enter NA as the account and 0 for the amount.)

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.