Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is the Bravo Unlimited adjusted Trial Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Credit $88,450 Cash Accounts Receivable

image text in transcribed

image text in transcribed

The following is the Bravo Unlimited adjusted Trial Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Credit $88,450 Cash Accounts Receivable 331,860 Supplies 13,255 Prepaid Rent 10,500 Equipment 295,285 $236,760 Accumulated Depreciation Accounts Payable 75,555 Wages Payable 14,000 Capital Stock 220,000 Retained Earnings 111,145 900,105 Service Revenue Interest Income 1,500 64,000 Rent Expense Wages Expense 541,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 156,500 Interest Expense 6,840 $1,559,065 $1,559,065 Totals Prepare the general journal entry (without explanation) needed to close the revenue(s) for the year end. Use compound entries where required

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Good Better Best A Guidebook For Performance Auditing

Authors: Gary Blackmer

1st Edition

131265869X, 978-1312658691

More Books

Students also viewed these Accounting questions