5. 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

231,860

Supplies

17,255

Equipment

395,285

Accumulated Depreciation

$224,260

Accounts Payable

72,555

Capital Stock

220,000

Retained Earnings

111,145

Service Revenue

893,105

Interest Income

1,500

Dividends

2,000

Rent Expense

58,500

Wages Expense

527,260

Supplies Expense

42,520

Utilities Expense

8,595

Depreciation Expense

150,840

________

Totals

$1,522,565

$1,522,565

Use this information to prepare the Single-Step Income Statement for the fiscal year. There are additional lines in the formatted income statement form to allow for authorized alternate presentations.

Bravo Unlimited

Income Statement

Question 6

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

231,860

Supplies

17,255

Equipment

395,285

Accumulated Depreciation

$224,260

Accounts Payable

72,555

Capital Stock

120,000

Retained Earnings

214,145

Service Revenue

892,105

Interest Income

2,500

Dividends

5,000

Rent Expense

58,700

Wages Expense

527,000

Supplies Expense

42,600

Utilities Expense

8,600

Depreciation Expense

150,815

________

Totals

$1,525,565

$1,525,565

Use this information to prepare the Balance Sheet for the fiscal year. There are additional lines in the formatted Balance Sheet form to allow for authorized alternate presentations.

Bravo Unlimited

Balance Sheet

Question 7

The information is provided in a table for Alpha Company and Bravo Company.

Alpha Company

Bravo Company

Balance 12/31/15

Assets

$65,000

Liabilities

$17,000

Equity

40,000

55,000

Balance 12/31/16

Assets

90,000

Liabilities

26,000

15,000

Equity

80,000

75,000

During the Year:

Additional Stock Issued

10,000

Dividends paid to shareholders

3,000

5,000

Revenue

90,000

Expenses

65,000

50,000

What are the amounts for each of the following missing items?

1. Alpha Company's 12/31/15 Liabilities

2. Alpha Company's 12/31/16 Assets

3. Alpha Company's 12/31/16 Additional Stock Issued

4. Bravo Company's 12/31/15 Assets

5. Bravo Company's 12/31/16 Revenues

5. The following is the Bravo Unlimited adjusted Trail Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Cash $88,450 Accounts Receivable 231,860 Supplies Equipment Accumulated Depreciation Accounts Payable Credit 17,255 395,285 $224,260 72,555 Capital Stock 220,000 Retained Earnings 111,145 Service Revenue 893,105 Interest Income 1,500 Dividends Rent Expense Wages Expense 2,000 58,500 527,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense Totals 150,840 ________ $1,522,565 $1,522,565 Use this information to prepare the Single-Step Income Statement for the fiscal year. There are additional lines in the formatted income statement form to allow for authorized alternate presentations. Bravo Unlimited Income Statement Question 6 The following is the Bravo Unlimited adjusted Trail Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Cash $88,450 Accounts Receivable 231,860 Supplies Equipment Credit 17,255 395,285 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 120,000 Retained Earnings 214,145 Service Revenue 892,105 Interest Income 2,500 Dividends 5,000 Rent Expense Wages Expense 58,700 527,000 Supplies Expense 42,600 Utilities Expense 8,600 Depreciation Expense Totals 150,815 ________ $1,525,565 $1,525,565 Use this information to prepare the Balance Sheet for the fiscal year. There are additional lines in the formatted Balance Sheet form to allow for authorized alternate presentations. Bravo Unlimited Balance Sheet Question 7 The information is provided in a table for Alpha Company and Bravo Company. Alpha Company Bravo Company Balance 12/31/15 Assets $65,000 Liabilities Equity $17,000 40,000 55,000 Balance 12/31/16 Assets 90,000 Liabilities 26,000 15,000 Equity 80,000 75,000 During the Year: Additional Stock Issued 10,000 Dividends paid to shareholders 3,000 Revenue 90,000 Expenses 65,000 What are the amounts for each of the following missing items? 5,000 50,000 1. Alpha Company's 12/31/15 Liabilities 2. Alpha Company's 12/31/16 Assets 3. Alpha Company's 12/31/16 Additional Stock Issued 4. Bravo Company's 12/31/15 Assets 5. Bravo Company's 12/31/16 Revenues