Purchase Solution

Trial balance columns and worksheet

Not what you're looking for?

Ask Custom Question

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.

GOODE COMPANY
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
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.

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.

Purchase this Solution

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.

Purchase this Solution


Free BrainMass Quizzes
Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Business Processes

This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Learning Lean

This quiz will help you understand the basic concepts of Lean.

Lean your Process

This quiz will help you understand the basic concepts of Lean.