Question
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
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 | 332,700 |
|
Supplies | 10,255 |
|
Prepaid Rent | 8,250 |
|
Equipment | 295,285 |
|
Accumulated Depreciation |
| $235,260 |
Accounts Payable |
| 72,555 |
Wages Payable |
| 10,000 |
Capital Stock |
| 220,000 |
Retained Earnings |
| 111,145 |
Service Revenue |
| 897,105 |
Interest Income |
| 1,500 |
Rent Expense | 63,250 |
|
Wages Expense | 537,260 |
|
Supplies Expense | 42,520 |
|
Depreciation Expense | 163,595 |
|
Dividends | 6,000 | ________ |
Totals | $1,547,565 | $1,547,565 |
What are the dollar values that will appear in Bravo Unlimited year end financial statements for the following line items: (For any Net Loss the dollar value must be enclosed in brackets and do not use a minus sign.)
1. Total Current Assets
2. Total Quick Assets
3. Total Current Liabilities
4. Net Income or (Net Loss)
5. Retain Earnings
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