Goode Company Income Summary

Axia College Material
Appendix F
Closing Entries and a Post-closing Trial Balance
Journalize Closing Entries
Use this template to journalize the closing entries for Goode Company at April 30, 2008.

GOODE COMPANY
Closing Entries at April 30, 2008
DATE
Apr 30

ACCOUNT TITLE AND EXPLANATION
Service Revenue
Income Summary

30 Income Summary
Salaries expense
Rent expense
Depreciation expense
Interest expense

DEBIT
CREDIT
15,590
15,590
12,328
10,840
760
671
57

30 Income Summary
Retained earnings

3,262

30 Retained Earnings
Dividends

3,650

3,262

3,650

a) Closing Entries

Axia College Material
Appendix F
Adjusting Entries, Posting, and Preparing an Adjusted Trial
Balance
Post Closing Entries