Preparing a trial balance, closing journal entry, and post-closing trial balance [lo 4-3, lo 4-5] skip to question [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 debit or credit balances. assume the year ended on september 30, 2021.
accounts payable $ 606
accounts receivable 306
accumulated depreciation 906
cash 306
common stock 206
deferred revenue 206
depreciation expense 306
equipment 3,206
income tax expense 306
interest revenue 106
notes payable (long-term) 206
notes payable (short-term) 506
prepaid rent 106
rent expense 406
retained earnings 1,506
salaries and wages expense 2,206
service revenue 6,218
supplies 506
supplies expense 206
travel expense 2,606
Required: Prepare an adjusted trial balance at september 30, 2021. is the retained earnings balance of $1,506 the amount that would be reported on the balance sheet as of september 30, 2021?
