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Where did I go wrong with the retained earnings? Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of
Where did I go wrong with the retained earnings?
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, 2018. $ 607 307 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Deferred Revenue Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes Payable (long-term) Notes Payabl (short-term) Prepaid Rent Rent Expense Retained Earnings Salaries and Wages Expense Service Revenue Supplies Supplies Expense Travel Expense 907 307 207 207 307 3,207 307 107 207 507 107 407 1,507 2,207 6,221 507 207 2,607 3. Prepare a post-closing trial balance at September 30, 2018. X Answer is not complete. STARBOOKS CORPORATION Post-closing Trial Balance Account Titles Debit Credit Cash $ 307 Accounts Receivable 307 507 107 3,207 907 607 207 507 207 207 Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Deferred Revenue 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 1,793 0 0 0 0 0 0 0 0 $ 6,228 $ 2,642Step by Step Solution
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