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    Trial balance columns and worksheet

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    Enter the trial balance on a worksheet and complete the worksheet.

    E4-2 The adjusted trial balance columns of the worksheet for Goode Company are as follows.

    Worksheet (partial)
    For the Month Ended April 30, 2008

    Adjusted Trial Income Balance
    Balance Statement 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

    Complete the worksheet.

    E4-3 Worksheet data for Goode Company are presented in E4-2. No common stock was issued during April.

    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.

    (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.

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    Solution Summary

    The solution enters the trial balance on a worksheet and completes the worksheet. An income statement is prepared to determine the retained earnings statement and classified balance sheet.