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GOODE COMPANY
Worksheet (partial)
For the Month Ended April 30, 2008
Adjusted Trial Income
Balance
Statement
Balance Sheet
Account Titles
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
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
Totals
62,900
Instructions
Complete the worksheet.
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.
Evaluate the amount of cash payments to stockholders during the year
Prepare an amortization schedule for the Note Receivable using the subsequent columns
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