The following is the Bravo Unlimited adjusted Trial Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016

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

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

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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