The following is the Bravo Unlimited unadjusted Trial Balanc

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

6,255

Prepaid Rent

12,000

Equipment

295,285

Accumulated Depreciation

$224,260

Accounts Payable

73,555

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

$1,523,565

$1,523,565

Adjusting Items:

1. The prepaid rent covers December 2016 thru March 2017 rents.

2. December depreciation on equipment is $11,500 per month.

3. At year end Wages of $12,000 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

Bravo Unlimited
Unadjusted Trial Balance
December 31, 2016
Account Title	Debit	Credit
Cash	$88,450
Accounts Receivable	331,860
Supplies	6,255
Prepaid Rent	12,000
Equipment	295,285
Accumulated Depreciation		$224,260
Accounts Payable		73,555
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	$1,523,565	$1,523,565

Solution

Calculate adjusted amount :

4.

No.	Transaction	Amount
1.	Cash	88450
2.	Prepaid rent (12000-3000)	9000
3.	equipment	295285
4.	Accumlated dep (224260+11500)	235760
5.	Wages payable (0+12000)	12000
6.	Rent expenses (60500+3000)	63500
7.	Wages expenses (527260+12000)	539260
8.	Depreciation expenses (144000+11500)	155500