Question

PA 4-1 Preparing a Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5) [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 Accounts Receivable Accumulated Depreciation Cenon Stock Deferred Revenue Depreciation Expense Louipment D interest Revenue Notes Payable (long-ters) Notes Payable (short-ters) ont Rent Expense etained Earnings salaries and wages Exponse Service Rovenue Supplies le

Answer 1

All assets, expenses and dividends have normal debit balance.

All revenues, retained earnings and liabilities have named credit balance.

Please find below correct Trial Balance.

STARBOOKS CORPORATION
Post- Closing Trial Balance
At September 30,2018
Accounts Titles	Debit	Credit
Cash	293
Accounts receivable	293
Supplies	493
Prepaid rent	93
Equipment	3,193
Accumulated depreciation		893
Accounts payable		593
Deferred revenue		193
Note payable (short - term		493
Note payable (long - term		193
Common stock		193
Retained earnings		1,493
Service revenue		6,179
Interest revenue		93
Travel expense	2,593
Salaries and wages expense	2,193
Rent expense	393
Depreciation expense	293
Supplies expense	193
Income tax expense	293
Totals	$        10,323	$   10,323

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