Question

post closing trial balance financial accounting

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 Recounts Receivable Melated Depreciation Common Deferred Revenue ti per iment Income Tax Expense Notes Payable long-term) Notes Payable short-ter) wense Retained Earnings Salaries and we Service Revenue Supplies Supplies pense Travel Expense

Answer 1

Starbooks Corporation Post closing Trial Balance Acconts Title Debit Credit Accounts Receivable $ 310 Cash $ 310 Prepaid Rent $ 110 Equipment $ 3,210 Supplies $ 510 Accumulated Depreciation $ 910 Accounts Payable $ 610 Deferred Revenue $ 210 Notes payable(Long term) $ 210 Notes payable(short term) $ 510 Common Stock $ 210 Retained earnings $1,790 $ 4,450 $4,450 1510+280 $6,340 Income Statement Revenues: Service Revenue $ 6,230 Interest Revenue $ 110 Expenses: Depreciation Expenses $ 310 Income Tax Expenses $ 310 Rent Expenses $ 410 Salaries & wages expenses $ 2,210 Supplies Expenses $ 210 Travel Expenses $ 2,610 Net Income $6,060 $ 280 should transferred to Retained Earnings