Question 5 (12 points) The following is the Bravo Unlimited adjusted Trail Balan
ID: 2409385 • Letter: Q
Question
Question 5 (12 points)
The following is the Bravo Unlimited adjusted Trail 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
331,145
Service Revenue
898,105
Interest Income
1,500
Rent Expense
66,000
Wages Expense
537,260
Supplies Expense
42,520
Depreciation Expense
164,595
Drawings
6,840
________
Totals
$1,549,565
$1,549,565
Prepare the general journal entry needed to close Drawings to Capital.
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
331,145
Service Revenue
898,105
Interest Income
1,500
Rent Expense
66,000
Wages Expense
537,260
Supplies Expense
42,520
Depreciation Expense
164,595
Drawings
6,840
________
Totals
$1,549,565
$1,549,565
Explanation / Answer
Journal entry :
Date accounts & explanation debit credit Bravo's capital 6840 Bravo's drawings 6840 (To close drawings to capital)Related Questions
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