Excel_Chapter 4

Excel_Chapter 4 - Name Section Date Exercise 4-2 Goode...

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171 Name Exercise 4-2 Section Date Goode Company Goode Company (Partial) Worksheet For the Month Ended April 30, 2008 Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. 1 Cash 13,752 13,752 1 2 Accounts Receivable 7,840 7,840 2 3 Prepaid Rent 2,280 2,280 3 4 Equipment 23,050 23,050 4 5 Accumulated Depreciation 4,921 4,921 5 6 Notes Payable 5,700 5,700 6 7 Accounts Payable 5,672 5,672 7 8 T. Goode, Capital 30,960 30,960 8 9 T. Goode, Drawing 3,650 3,650 9 10 Service Revenue 15,590 15,590 10 11 Salaries Expense 10,840 10,840 11 12 Rent Expense 760 760 12 13 Depreciation Expense 671 671 13 14 Interest Expense 57 57 14 15 Interest Payable 57 57 15 16 Totals 62,900 62,900 12,328 15,590 50,572 47,310 16 17 Net Income 3,262 3,262 17 18 Totals 12,328 12,328 47,310 47,310 18 19 19 20 20
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171 Name Exercise 4-3 Section Date Goode Company Goode Company Income Statement For the Month Ended April 30, 2008 1 Revnues 1 2 Service revenue 15,590 2 3 Expenses 3 4 Salaries expense 10,840 4 5 Rent expense 760 5 6 Depreciation expense 671 6 7 Interest expense 57 7 8 Total expenses 12,328 8 9 9 10 Net Income 3,262 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 Goode Company Owner's Equity Statement For the Month Ended April 30, 2008 1 T. Goode, Capital, April 1 0 1 2 Add: Investments 30,960 2 3 Net Income 3,262 34,222 3 4 34,222 4 5 Less: Drawings 3,650 5 6 T. Goode, Capital, April 30 30,572 6
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171
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171 Name Exercise 4-3 Concluded Section Date Goode Company (Continued) Goode Company Classified Balance Sheet April 30, 2008 1 Assets 1 2 Current Assets 2 3 Cash 13,752 3 4 Receivables 7,840 4 5 Prepaid Expenses 2,280 23,872 5 6 6 7 Property, Plant, and Equipment 7 8 Equipment 23,050 8 9 Less: Accumulated Depreciation 4,921 18,129 9 10 10 11 42,001 11 12 12 13 Liabilities and Owner's Equity 13 14 Current Liabilities 14 15 Notes Payable 5,700 15 16 Accounts Payable 5,672 16 17 Interest Payable 57 11,429 17 18 18 19 Owner's Equity 19 20 T. Goode, Capital 30,572 20 21 42,001 21 22 22 23 23 24 24 25 25 26 26
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171 Name Exercise 4-4 Section Date Goode Company (a) Date Account Titles Debit Credit 1 Apr. 30 Service Revenue 15,590 1 2 Income Summary 15,590 2 3 (to close revenue account) 3 4 30 Income Summary 12,328 4 5 Salaries Expense 10,840 5 6 Rent Expense 760 6 7 Depreciation Expense 671 7 8 Interest Expense 57 8 9 (to close expense accounts) 9 10 30 Income Summary 3,262 10 11 T. Goode, Capital 3,262 11 12 (to close net income to capital) 12 13 30 T. Goode, Capital 3,650 13 14 T. Goode, Drawing 3,650 14 15 (to close drawings to capital) 15 (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 1 Cash 13,752 1 2 Accounts Receivable 7,840 2 3 Prepaid Rent 2,280 3 4 Equipment 23,050 4 5 Accumulated Depreciation 4,921 5 6 Notes Payable 5,700 6 7 Accounts Payable 5,672 7 8 Interest Payable 57 8 9 T. Goode, Capital 30,572 9 10 10
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171 11 46,922 46,922 11
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171 Name Exercise 4-9 Section Date Apachi Company (a) Apachi Company For The Year Ended July 31, 2008 1 Revenues 1 2 Service Revenue 71,500 2 3 Expenses 3 4 Salaries Expense 55,700 4 5 Utilities Expense 14,900 5 6 Depreciation Expense 4,000 6 7 Total Expenses 74,600 7 8 Net income (loss) (3,100) 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 Apachi Company Owner's Equity Statement For the Year Ended July 31, 2008 1 B.J. Apachi, Capital, July 1
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This note was uploaded on 08/12/2008 for the course ACCT 101 taught by Professor Ggode during the Summer '08 term at Lindenwood.

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Excel_Chapter 4 - Name Section Date Exercise 4-2 Goode...

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