Adjusting items:

1. A physical inventory shows supplies on hand of $3,000 at year end. 2. The prepaid rent covers December 2016 thru March 2017 rents. 3. December depreciation on equipment is $11,000 per month. 4. At year end Wages of $10,000 were earned but unpaid. Use this information to prepare the general Journal entry

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The following is the Bravo Unlimited unadjusted Trial Balance. Bravo Unlimited Unadjusted Trial Balance December 31, 2016 Account Title Debit Credit $88,450 Cash Accounts Receivable 231,860 Supplies 6,255 Prepaid Rent 11,000 Equipment 395,285 Accumulated Depreciation $224,260 Accounts Payable 72,555 Wages Payable 0 220,000 Capital Stock 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 $1,522,565 $1,522,565 Totals Adjusting Items: 1. A physical inventory shows supplies on hand of $3,000 at year end. 2. The prepaid rent covers December 2016 thru March 2017 rents. 3. December depreciation on equipment is $11,000 per month 4. At year end Wages of $10,000 were earned but unpaid. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment.

Explanation:

The adjusting entries are shown below:

1. Supplies expense A/c Dr $3,255

To supplies A/c $3,255

The supplies expense is computed by

= Supplies balance - supplies on hand

= $6,255 - $3,000

= $3,255

2. Rent expense A/c Dr $2,750 ($11,000 : 4 months)

To Prepaid rent A/c $2,750

3. Depreciation Expense A/c Dr $11,000

To Accumulated Depreciation - Equipment A/c $11,000

4. Wages Expense A/c Dr $10,000

To Wages payable A/c $10,000