Homework SourseThe 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 331,860 Supplies 11,255 Prepaid Rent 5,500 Equipment 295,285 Accumulated Depreciation $236,260 Accounts Payable 72,555 Wages Payable 10,000 Capital Stock 220,000 Retained Earnings 111,145 Service Revenue 898,105 Interest Income 1,500 Rent Expense 66,000 Wages Expense 537,260 Supplies Expense 42,520 Depreciation Expense 164,595 Dividends 6,840 ________ Totals $1,549,565 $1,549,565 Prepare the general journal entry (without explanation) needed to close expense(s) for the year end. Use compound entries where required. If no entry is required then write \"No Entry Required.\"
Solution
Journal entry :
| Date | accounts & explanation | debit | credit |
| Income summary a/c | 810375 | ||
| Rent expenses | 66000 | ||
| Wages expenses | 537260 | ||
| Supplies expenses | 42520 | ||
| Depreciation expenses | 164595 | ||
