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The following is the Bravo Unlimited adjusted Trial Balance

The following is the Bravo Unlimited adjusted Trial Balance.  Bravo Unlimited

Adjusted Trial Balance

December 31, 2016

Account Title

Debit

Credit

Cash

$88,450 

 

Accounts Receivable

333,700 

 

Supplies

15,255 

 

Prepaid Rent

9,000 

 

Equipment

295,285 

 

Accumulated Depreciation

 

$235,760 

Accounts Payable

 

73,555 

Wages Payable

 

12,000

Capital Stock

 

220,000 

Retained Earnings

 

111,145 

Service Revenue

 

902,105 

Interest Income

 

1,500 

Rent Expense

63,500 

 

Wages Expense

539,260 

 

Supplies Expense

42,520

 

Depreciation Expense

164,095   

 

Dividends

5,000 

_________

     Totals

$1,556,065 

$1,556,065 

Prepare the general journal entry (without explanation) needed to close Net Income or Net Loss for the year end. Use compound entries where required. If no entry is required then write “No Entry Required.”

 

 

 
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