Preparing a Trial Balance, Closing Journal Entry, andPost-Closing Trial Balance. The following information applies tothe questions displayed below.] Starbooks Corporation provides anonline bookstore for electronic books. The following is asimplified list of accounts and amounts reported in its accountingrecords. The accounts have normal debit or credit balances. Assumethe year ended on September 30, 2018.
Accounts Payable $ 602
Accounts Receivable 302
Accumulated Depreciation 902
Cash 302
Common Stock 202
Deferred Revenue 202
Depreciation Expense 302
Equipment 3,202
Income Tax Expense 302
Interest Revenue 102
Notes Payable (long-term) 202
Notes Payable (short-term) 502
Prepaid Rent 102
Rent Expense 402
Retained Earnings 1,502
Salaries and Wages Expense 2,202
Service Revenue 6,206
Supplies 502
Supplies Expense 202
Travel Expense 2,602
How to prepare an adjusted trial balance at September 30,2018?
Is the Retained Earnings balance of $1,502 the amount that wouldbe reported on the balance sheet as of September 30, 2018? Yes orNo??
