Business, 23.03.2020 18:33 maxy7347go

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 a normal debit or credit balances. Assume the year ended on September 30, 2018.

Accounts Payable $603
Accounts Receivable 303
Accumulated Depreciation 903
Cash 303
Common Stock 203
Deferred Revenue 203
Depreciation Expense 303
Equipment 3,203
Income Tax Expense 303
Interest Revenue 103
Notes Payable (long-term) 203
Notes Payable (short-term) 503
Prepaid Rent 103
Rent Expense 403
Retained Earnings 1,503
Salaries and Wages Expense 2,203
Service Revenue 6,209
Supplies 503
Supplies Expense 203
Travel Expense 2,603
Required:

1-a. Prepare and adjusted trial balance on September 30, 2018.

2-b. Is the Retained Earnings balance of $1,503 the amount that would be reported on the balance sheet as of September 30, 2018?

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Starbooks Corporation provides an online bookstore for electronic books. The following is a simplifi...

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