Complete the post-closing trial balance at september

Assignment Help Financial Accounting
Reference no: EM132646486

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 $610
Accounts Receivable 310
Accumulated Depreciation 910
Cash 310
Common Stock 210
Deferred Revenue 210
Depreciation Expense 310
Equipment 3,210
Income Tax Expense 310
Interest Revenue 110
Notes Payable (long-term) 210
Notes Payable (short-term) 510
Prepaid Rent 110
Rent Expense 410
Retained Earnings 1,510
Salaries and Wages Expense 2,210
Service Revenue 6,230
Supplies 510
Supplies Expense 210
Travel Expense 2,610

Question 1: Complete the post-closing trial balance at September 30, 2018.

Reference no: EM132646486

Questions Cloud

Consumer participation in program planning : 1. Give examples of at least five barriers which can prevent consumer participation in program planning.
Find the firms are roa and asset turnover ratio : 2920 which represents 20 days sales total assets are 73,000 the firms operating profit margin 6% find the firms are ROA and asset turnover ratio
Structure of the genetic material of the alien sample : Examine the structure of the genetic material of the alien sample.
What is the basic anatomy and function of acetylcholinergic : What is the basic anatomy and function of acetylcholinergic systems of the brain?
Complete the post-closing trial balance at september : Complete the post-closing trial balance at September 30, 2018. Starbooks Corporation provides an online bookstore for electronic books.
Give your thoughts on the use of ice-minus bacteria : You will respond to the following i) do you think it's safe for us to consume products made this way? do you think the public should be notified
Give the journal entry to record the transactions : August 3 - Cash sales, list price, P 50,000 with trade discount of 8% and 5% Freight paid, P 4000. Give the journal entry to record the transactions
Construct the closing entry required at september : Construct the closing entry required at September 30, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required")
Construct strengths-weaknesses-opportunities-threats matrix : You can locate a SWOT matrix through information literacy (Best resource is Google the word: SWOT Matrix. You will find a lot of variations

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the cost of waste due to excess inventory

Kate Connor, a teacher at Meadow Middle School, is in charge of ordering the T-shirts to be sold for the school’s annual fund-raising project. The T-shirts are printed with a special Meadow School logo. If the school receives actual sales orders for ..

  Business equipment with a fair market value

Before any debt cancellation, KuhnCo holds business equipment with a fair market value of $1,000,000 and related liabilities of $1,250,000. The lender agrees to cancel $400,000 of the liabilities. How much gross income does KuhnCo report as a result ..

  What will the noncontrolling interest share

Java Company acquired 70 % of Richie Corporation on 1/13. Fair values of Richie's assets and liabilities approximated book values on that date. Java uses the initial value method to account for its investment in Richie. What will the noncontrolling i..

  Which mission statement best represents the digby company

Which mission statement best represents the Digby company? Innovation meets revolution. We create value for our customers through breakthrough designs

  Create a powerpoint presentation for senior executive

Unit V PowerPoint Presentation  Create a PowerPoint Presentation for senior executives that will outline how you will measure, evaluate, and justify the implementation of your HRD program (from Unit II). Your presentation should include the following..

  Determine and show the operating activities section

Determine and show the operating activities section of the Statement of Cash Flows for Learning, Inc. for the year ended December 31, 2007

  Prepare partial statement of financial position

Frisco Enterprises entered into a lease agreement with Ebby Real Estate Properties Characteristics of the Lease is listed below: a. Date of lease agreement is January 1, 2015 b. Utilize excel then type your answer Prepare a partial Statement of Finan..

  Prepare a outline three measures of variance t

Prepare a Outline three (3) measures of variance typically associated with budgeting and forecasting. Briefly describe each. Include the formula for calculating

  Lodge contributing securities with basis

On January 2, 2015, Henry, Cabot, and Lodge formed a three-person equal partnership with Henry and Cabot each contributing $100,000 and Lodge contributing securities with a basis to him of $60,000 and a fair market value of $100,000. On February 28, ..

  Find which statement concerning recognition of liabilities

According to the Conceptual Framework which statement concerning the recognition of liabilities is not true. Please identify from below.

  At what amount are june payments for purchases? budgeted

All purchases are paid 45?% in the month of purchase and 55?% the following month. At what amount are June payments for purchases? budgeted?

  What would the schedule of expected cash collections

there are no bad debts/uncollectibles. What would the schedule of expected cash collections be in this scenario?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd