Question
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
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 debit or credit balances. Assume the year ended on September 30, 2021. Accounts Payable $ 608 Accounts Receivable 308 Accumulated Depreciation 908 Cash 308 Common Stock 208 Deferred Revenue 208 Depreciation Expense 308 Equipment 3,208 Income Tax Expense 308 Interest Revenue 108 Notes Payable (long-term) 208 Notes Payable (short-term) 508 Prepaid Rent 108 Rent Expense 408 Retained Earnings 1,508 Salaries and Wages Expense 2,208 Service Revenue 6,224 Supplies 508 Supplies Expense 208 Travel Expense 2,608 PA4-1 (Algo) Part 2
1. Prepare the closing entry required at September 30, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
2. Prepare a post-closing trial balance at September 30, 2021.
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