Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information [The following information applies to the questions displayed below.) Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified
Required information [The following information applies to the questions displayed below.) Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debitor credit balances. Assume the year ended on September 30, 2018 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deterred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Rent Expense Retained Earnings Salaries and Wages Expense Service Revenue Supplies Supplies Expense Travel Expense $ 592 292 892 292 192 192 292 3,192 292 92 192 492 92 392 1,492 2,192 6,176 492 192 2,592 E. Prepare a post-closing trial balance at September 30, 2018. Answer is complete but not entirely correct. Credit STARBOOKS CORPORATION Post-closing Trial Balance At September 30, 2018 Account Titles Debit Cash $ 292 Accounts Receivable 292 Supplies 492 Prepaid Rent 92 Equipment 3,192 Accumulated Depreciation Accounts Payable Deferred Revenue Notes Payable (short-term) Notes Payable (long-term) Common Stock Retained Earnings Service Revenue 6.176 X 892 592 192 492 192 192 1,808 Uueneu Nevenue 192 492 192 192 1,808 6,176 x 92 x Notes Payable (short-term) Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Interest Revenue Travel Expense Salaries and Wages Expense Rent Expense Depreciation Expense Supplies Expense Income Tax Expense Totals 2,592 X 2,192 X 392 X 292 X 192 X 292 X $ 10,628 $ 10,312
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started