Starbooks Corporation provides an online bookstore for elect

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, 2015 Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Common Stock Depreciation Expense Equipment Income Tax Expense Interest Revenue Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Rent Expense Retained Earnings Salaries and Wages Expense Service Revenue Supplies Supplies Expense Travel Expense Unearned Revenue $608 308 908 308 208 308 3,208 308 108 208 508 108 408 1,508 2,208 6,224 508 208 2,608 208

Solution

1) Closing entry :

Post closing trial balance :

Date	accounts & explanation	debit	credit
	Service revenue	6224
	Interest revenue	108
	Rent expense		408
	Depreciation expense		308
	Salaries and wages expense		2208
	Supplies expense		208
	Income tax expense		308
	Travel expense		2608
	Income summary		284
	(To close revenue and expense account)