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The following is the Bravo Unlimited unadjusted Trial Balance. Bravo Unlimited Unadjusted Trial Balance December 31, 2016 Account Title Debit Credit $88,450 Cash Accounts Receivable
The following is the Bravo Unlimited unadjusted Trial Balance. Bravo Unlimited Unadjusted Trial Balance December 31, 2016 Account Title Debit Credit $88,450 Cash Accounts Receivable 331,860 Supplies 7,255 Prepaid Rent 16,000 295,285 Equipment Accumulated Depreciation $224,260 Accounts Payable 78,555 Wages Payable 0 Capital Stock 220,000 Retained Earnings 111,145 Service Revenue 893,105 Interest Income 1,500 Rent Expense 60,500 527,260 Wages Expense Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 144,000 6.840 Interest Expense $1,528,565 $1,528,565 Totals Adjusting Items: 1. The prepaid rent covers December 2016 thru March 2017 rents. 2. December depreciation on equipment is $14,500 per month 3. At year end Wages of $15,000 were earned but unpaid. Bravo prepares monthly adjusting entries. 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
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