Preparing a Trial Balance
Starbucks Corporation purchases and roasts high-quality whole bean coffees and sells them along with fresh-brewed coffees, Italian-style espresso beverages, a variety of pastries and confections, coffee-related accessories and equipment, and a line of premium teas. In addition to sales through its company-operated retail stores, Starbucks also sells coffee and tea products through other channels of distribution. The following is a simplified list of accounts and amounts reported in recent financial statements. The accounts have normal debit or credit balances, and the dollars are rounded to the nearest million. Assume that the year ended on September 30, 2012.

Required:
1. Prepare an adjusted trial balance at September 30, 2012.
2. How did you determine the amount for retainedearnings?

Transcribed Image Text:

$ 325 $ 693 Accounts Payable Inventories Accounts Receivable Long-Term Investments 330 374 Long-Term Liabilities Accrued Liabilities 1,152 992 2,761 Accumulated Depreciation Net Revenues 10.497 Cash 270 Other Current Assets 234 Contributed Capital 40 Other Long-Lived Assets 594 Other Operating Expenses Cost of Sales 4,645 330 Depreciation Expense 549 Prepaid Expenses Property, Plant, and Equipment Retained Earnings 169 5,717 General and Administrative Expense 723 Income Tax Expense Interest Expense 144 Short-Term Bank Debt 713 53 Short-Term Investments 43 Store Operating Expenses Interest Income 6. 3,745