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 $30.$

Accounts Payable $ $595$

Accounts Receivable $295$

Accumulated Depreciation $895$

Cash $295$

Common Stock $195$

Deferred Revenue $195$

Depreciation Expense $295$

Equipment $3,195$

Income Tax Expense $295$

Interest Revenue $95$

Notes Payable $($long$-$term$)195$

Notes Payable $($short$-$term$)495$

Prepaid Rent $95$

Rent Expense $395$

Retained Earnings $1,495$

Salaries and Wages Expense $2,195$

Service Revenue $6,185$

Supplies $495$

Supplies Expense $195$

Travel Expense $2,595$

Required:

$1-$a$.$ Prepare an adjusted trial balance at September $30.$

$1-$b$.$ Is the Retained Earnings balance of $$1,495$ the amount that would be reported on the balance sheet as of September $30?$

$2.$ Prepare the closing entry required at September $30.$

$3.$ Prepare a post$-$closing trial balance at September $30.$

$4.$ Give the adjusting journal entry required for each item at December $31,2024.$

$5.$ If adjustments were not made each period, the financial results could be materially misstated. Determine the amount by which Brokeback's net income would have been understated or overstated had the adjustments in requirement $1$ not been made.