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Question - The following is the Bravo Unlimited unadjusted Trial Balance.
Bravo Unlimited Unadjusted Trial Balance December 31, 2016
Account Title
Debit
Credit
Cash
$88,450
Accounts Receivable
331,860
Supplies
7,255
Prepaid Rent
16,000
Equipment
295,285
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
Wages Expense
527,260
Supplies Expense
42,520
Utilities Expense
8,595
Depreciation Expense
144,000
Interest Expense
6,840
Totals
$1,528,565
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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