Question 1

The following is the Bravo Unlimited unadjusted Trail Balance.

Bravo Unlimited

Unadjusted Trial Balance

December 31, 2016

Account Title

Debit

Credit

Cash

$88,450

Accounts Receivable

331,860

Supplies

6,255

Prepaid Rent

12,000

Equipment

295,285

Accumulated Depreciation

$224,260

Accounts Payable

73,555

Wages Payable

0

Capital Stock

220,000

Retained Earnings

111,145

Service Revenue

893,105

Interest Income

1,500

Rent Expense

60,500

Wages Expense

527,260

Supplies Expense

42,520

Utilities Expense

8,595

Depreciation Expense

144,000

Interest Expense

6,840

________

Totals

$1,523,565

$1,523,565

Adjusting Items:

1. The prepaid rent covers December 2016 thru March 2017 rents.

2. December depreciation on equipment is $11,500 per month.

3. At year end Wages of $12,000 were earned but unpaid.

Use this information to determine the adjusted account balances for the following:

1. Cash

2. Prepaid Rent

3. Equipment

4. Accumulated Depreciation

5. Wages Payable

6. Rent Expense

7. Wages Expense

8. Depreciation Expense