The following is the Bravo Unlimited adjusted Trail Balance. Bravo Unlimited...
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Accounting
The following is the Bravo Unlimited adjusted Trail Balance.
| Bravo Unlimited | ||
| Adjusted Trial Balance | ||
| December 31, 2016 | ||
| Account Title | Debit | Credit |
| Cash | $88,450 |
|
| Accounts Receivable | 331,860 |
|
| Supplies | 11,255 |
|
| Prepaid Rent | 5,500 |
|
| Equipment | 295,285 |
|
| Accumulated Depreciation |
| $236,260 |
| Accounts Payable |
| 72,555 |
| Wages Payable |
| 10,000 |
| Capital Stock |
| 220,000 |
| Retained Earnings |
| 111,145 |
| Service Revenue |
| 898,105 |
| Interest Income |
| 1,500 |
| Rent Expense | 66,000 |
|
| Wages Expense | 537,260 |
|
| Supplies Expense | 42,520 |
|
| Depreciation Expense | 164,595 |
|
| Dividends | 6,840 | ________ |
| Totals | $1,549,565 | $1,549,565 |
Prepare the general journal entry (without explanation) needed to close expense(s) for the year end. Use compound entries where required. If no entry is required then write "No Entry Required."
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