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, 2015.

Accounts Payable	$	590
Accounts Receivable		290
Accumulated DepreciationEquipment		890
Cash		290
Common Stock		190
Depreciation Expense		290
Equipment		3,190
Income Tax Expense		290
Interest Revenue		90
Notes Payable (long-term)		190
Notes Payable (short-term)		490
Prepaid Rent		90
Rent Expense		390
Retained Earnings		1,490
Salaries and Wages Expense		2,190
Service Revenue		6,170
Supplies		490
Supplies Expense		190
Travel Expense		2,590
Unearned Revenue		190

3.

value: 10.00 points

Required information

Required:

1-a.	Prepare an adjusted trial balance at September 30, 2015.

1-b.

Is the Retained Earnings balance of $1,490 the amount that would be reported on the balance sheet as of September 30, 2015?

	Yes
	No

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, 2015.

Accounts Payable	$	590
Accounts Receivable		290
Accumulated DepreciationEquipment		890
Cash		290
Common Stock		190
Depreciation Expense		290
Equipment		3,190
Income Tax Expense		290
Interest Revenue		90
Notes Payable (long-term)		190
Notes Payable (short-term)		490
Prepaid Rent		90
Rent Expense		390
Retained Earnings		1,490
Salaries and Wages Expense		2,190
Service Revenue		6,170
Supplies		490
Supplies Expense		190
Travel Expense		2,590
Unearned Revenue		190

3.

value: 10.00 points

Required information

Required:

1-a.	Prepare an adjusted trial balance at September 30, 2015.

1-b.

Is the Retained Earnings balance of $1,490 the amount that would be reported on the balance sheet as of September 30, 2015?

	Yes
	No

Total

$

73,450

$

73,450