Question

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. 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 PA4-1 Part 1 Required: 1-a. Prepare an adjusted trial balance at September 30, 2018.

Answer 1

Answer:

1 Required: 1-a. Prepare an adjusted trial balance at September 30, 2018.

Explanation:

Starbooks  

Adjusted trial balance  

 

d Cash                           $ 295  

d Account receivable  $ 295  

d Supplies                      $ 495  

d Equipment $           3.195  

c Accumulate depreciation            $ 895

d Prepaid Rent                   $ 95  

c Account Payable                             $ 595

c Notes Payable (short-term)              $ 495

c Deferred Revenue                          $ 195

c Notes Payable (long-term)                  $ 195

c Common Stock                                       $ 195

c Retained Earnings                               $ 1.495

c Service Revenue                                 $ 6.185

c Interest Revenue                                    $ 95

d Salaries Expense $ 2.195  

d Depreciation Expense $ 295  

d Income Tax Expense $ 295  

d  Rent Expense      $ 395  

d Supplies Expense      $ 195  

d Travel Expense   $ 2.595  

 

                       Total $ 10.345 $ 10.345