Question

E4-2 The adjusted trial balance columns of the worksheet for Goode Company are as follows. Balance Sheet Dr. Cr. Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Notes Payable Accounts Payable T. Goode, Capital T. Goode, Drawing Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Interest Payable Totals GOODE COMPANY Worksheet (partial) for the Month Ended April 30, 2010 Adjusted Trial Income Balance Statement Dr. Cr. Dr. Cr. 13,752 7,840 2,280 23,050 4,921 5,700 5,672 30,960 3,650 15,590 10,840 760 671 57 57 62,900 62,900 Instructions Complete the worksheet. E4-3 Worksheet data for Goode Company are presented in E4-2. The owner did not make any additional investments in the business in April. Instructions Prepare an income statement, an owner's equity 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 T. Goode, Capital. Use T accoun (e) Prepare a post-closing trial balance at April 30. ounts.

Please Solve The Questions From E4-2 To E4-4 These are Links with another

Answer 1

Account Title Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Notes Payable Accounts payable T.Goode, capital T.Goode, Drawing Service Revenue Salaries Expenses Rent Expenses Depreciation Expenses Interest Expenses Interest Payable Total Net Income Adjusted trial balance Income statement Balance sheet Debit Credit Debit Credit Debit Credit $ 13,752 $ 13,752 $ 7,840 $ 7,840 $ 2.280 $ 2.280 $ 23,050 $ 23,050 $ 4,921 $ 4,921 $ 5,700 $ 5,700 $ 5,672 $ 5,672 $ 30,960 $ 30,960 $ 3,650 $ 3,650 $ 15,590 $ 15,590 $ 10,840 $ 10,840 $ 760 $ 760 $ 671 $ 671 $ 57 $ 57 $ 57 $ 57 $62,900 $62,900 $12,328 $15,590 $50,572 $47,310 $ 3,262 S 3,262 $ 15,590 $ 15,590 $50,572 $50,572

Balance sheet Liabilities & shareholder's Equity Notes Payable $5,700 Accounts payable $5,672 Interest payable $ 57 $23,872 Total current liabilities $11,429 Income statement Service Revenue $15,590 Assets Less:Expenses Cash $13,752 Salaries Expenses $10,840 Accounts Receivable $ 7,840 Rent Expenses $ 760 Prepaid Rent $ 2,280 Depreciation Expenses $ 671 Total Current Assets Interest Expenses $ 57 $12.328 Equipment $ 23,050 Net Income $ 3,262 Less:Accumulated depreciation $ 4,921 Net fixed assets Total Assets Statement of equity T.Goode, capital beginning $ 30,960 Add: Net Income $ 3,262 Less: T. Goode drawing $ -3,650 T.Goode, capital ending $30,572 $18,129 T.Goode, capital $ 42,001 Total Liabilities & shareholder's Equity $30,572 $42,001

Credit Debit $15,590 $15,590 Sl.no Account Title a. Service Revenue Income Summary (closing revenue accounts) $15,590 760 Salaries Expenses Rent Expenses Depreciation Expenses Interest Expenses T.Goode, capital Income summary $10,840 Service Revenue $ $ 671 $ 57 $ 3,262 $15,590 b. $12,328 $15,590 $10,840 $ 760 Income Summary Salaries Expenses Rent Expenses Depreciation Expenses Interest Expenses (closing expenses accounts) $ $ 671 57 T.Goode, Drawing Ending Balance T. Goode, capital $ 3,650 Beginning Balance $30,960 $30,572 Income summary $ 3,262 $34,222 $34.222 $ 3,262 Income summary T.Goode, capital (closing income summary account) $ 3.262 d. $ 3,650 T.Goode, capital T.Goode, Drawing $ 3,650 Post closing trial balance Account Title Debit Credit Cash $13,752 Accounts Receivable $ 7,840 Prepaid Rent $ 2,280 Equipment $23,050 Accumulated Depreciation $ 4,921 Notes Payable $ 5,700 Interest Payable $ 57 Accounts payable $ 5,672 T.Goode, capital $30,572 Total $ 46,922 $ 46,922