GOODE COMPANY Worksheet (partial) For the Month Ended April 30, 2008 Adjusted Tr

Question

GOODE COMPANY
Worksheet (partial)
For the Month Ended April 30, 2008
Adjusted Trial Income
Balance Statement Balance Sheet
Account Titles Dr. Cr. Dr. Cr. 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
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.
E4-3 Worksheet data for Goode Company are presented in E4-2. No common stock was issued
during April.
Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet.
E4-4 Worksheet data for Goode Company are presented in E4-2.

Explanation / Answer

(b)




INCOME SUMMARY T. GOODE, CAPITAL 12,328 15,590
3,650 30,960
3,262
3,262 12,328 18,852
30,572







(c)




Goode Company Post-Closing Trial Balance April 30, 2008 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 Interest Payable 57 T. Goode, Capital 30,572 46,922 46,922

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