Hello I would like to use same instructor used for order #63493
Question 1 (7 points) Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable $65,000, Accounts receivable $31,000, Capital stock $100,000, Cash $50,000, Dividends $10,000, Goodwill $47,000, Interest expense $4,000, Interest payable $2,000, Inventory $24,000, Notes payable $80,000, Prepaid expenses $5,000, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. How much are total assets? Your Answer: Question 1 options: Answer Question 2 (7 points) Bravo Unlimited provided accounting services, valued at $7,500, to its clients during the month of January 2016. Formal bills are sent to clients during the first week following the month in which services are provided. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write "No Entry Required." General Journal Date Accounts Debit Credit Question 3 (7 points) The following is a partial unadjusted Trial Balance. Bravo Unlimited Unadjusted Trial Balance (partial) 1/31/16 Accounts Debit Credit Cash $32,527 Prepaid Insurance 1,800 Insurance Expense 0 The beginning balance in the Prepaid Insurance account on January 1, 2016 was $600 and represented five months of the building liability insurance. On, January 2, 2016, Bravo Unlimited purchased a 12 month motor vehicle insurance policy. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write "No Entry Required." General Journal Date Accounts Debit Credit Question 4 (7 points) The following is a partial unadjusted Trial Balance. Bravo Unlimited Unadjusted Trial Balance (partial) 3/31/16 Accounts Debit Credit Cash $27,500 Prepaid Expenses 2,800 Accounts Payable $15,000 Office Rent Expense 1,200 Machine Rent Expense 1,400 Bravo pays office rent at the beginning of each month of occupancy. The beginning balance of Prepaid Expenses account on March 1, 2016 was $700 and was for one month of machine rent. Machine rent is paid in advance at the end of each quarter. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write "No Entry Required." General Journal Date Accounts Debit Credit Question 5 (7 points) The following is a partial unadjusted Trial Balance. Bravo Unlimited Unadjusted Trial Balance (partial) 2/29/16 Accounts Debit Credit Cash $15,500 Supplies 14,000 Accounts Payable $10,500 Supplies Expense 5,000 The Supplies account balance on February 1, 2016 was $2,000. During the month of February Bravo purchased $12,000 of supplies for use in its operations. On February 29, Bravo warehouse chief inventoried supplies and determine the value on hand was $1,500. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write "No Entry Required." General Journal Date Accounts Debit Credit Question 6 (7 points) The following is a partial unadjusted Trial Balance. Bravo Unlimited Unadjusted Trial Balance (partial) 5/31/16 Accounts Debit Credit Cash $25,000 Wages Expense 60,000 Wages Payable $0 Bravo pays its employee weekly ($2,500 for a five day work week) on Fridays for work completed during that week. May 31 is a Tuesday. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write "No Entry Required." General Journal Date Accounts Debit Credit Question 7 (7 points) Bravo Company had $5,100 of supplies on hand at the beginning of 2016. On March 31 Bravo purchased an additional $12,400 of supplies. On December 31, a physical count of revealed a total of $5,800 of supplies on hand. What dollar value of Supplies Expense will be reported in the annual financial statements? Question 8 (7 points) 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 231,860 Supplies 6,255 Prepaid Rent 11,000 Equipment 395,285 Accumulated Depreciation $224,260 Accounts Payable 72,555 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 $1,522,565 $1,522,565 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. If no entry is required then write "No Entry Required." General Journal Date Accounts Debit Credit 1. 2. 3. 4. Question 9 (8 points) 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 7,255 Prepaid Rent 16,000 Equipment 295,285 Accumulated Depreciation $224,260 Accounts Payable 78,555 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 $1,528,565 $1,528,565 Adjusting Items: 1. The prepaid rent covers December 2016 thru March 2017 rents. 2. December depreciation on equipment is $14,500 per month. 3. At year end Wages of $15,000 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 Question 10 (7 points) 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 13,255 Prepaid Rent 10,500 Equipment 295,285 Accumulated Depreciation $236,760 Accounts Payable 75,555 Wages Payable 14,000 Capital Stock 220,000 Retained Earnings 111,145 Service Revenue 900,105 Interest Income 1,500 Rent Expense 64,000 Wages Expense 541,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 156,500 Interest Expense 6,840 _________ Totals $1,559,065 $1,559,065 Prepare the general journal entry (without explanation) needed to close the revenue(s) for the year end. Use compound entries where required. If no entry is required then write "No Entry Required." Date Accounts Debit Credit Question 11 (7 points) 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 331,000 Supplies 13,255 Prepaid Rent 10,500 Equipment 295,285 Accumulated Depreciation $236,760 Accounts Payable 75,555 Wages Payable 14,000 Capital Stock 220,000 Retained Earnings 111,145 Service Revenue 900,105 Interest Income 1,500 Rent Expense 64,000 Wages Expense 541,260 Supplies Expense 42,520 Depreciation Expense 165,095 Dividends 7,700 _________ Totals $1,559,065 $1,559,065 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." General Journal Date Accounts Debit Credit Question 12 (7 points) 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 330,000 Supplies 9,255 Prepaid Rent 12,000 Equipment 295,285 Accumulated Depreciation $238,760 Accounts Payable 78,555 Wages Payable 15,000 Capital Stock 220,000 Retained Earnings 111,145 Service Revenue 895,105 Interest Income 1,500 Rent Expense 64,500 Wages Expense 542,260 Supplies Expense 42,520 Depreciation Expense 167,095 Dividends 8,700 _________ Totals $1,560,065 $1,560,065 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." General Journal Date Accounts Debit Credit Question 13 (15 points) The following is the Bravo Unlimited adjusted Trial Balance. Alpha Dog Company Adjusted Trial Balance December 31, 2016 Account Title Debit Credit Cash $88,450 Accounts Receivable 150,000 Supplies 29,255 Stock Investment 172,000 Equipment 295,285 Accumulated Depreciation $238,760 Accounts Payable 78,555 Wages Payable 15,000 Capital Stock 220,000 Retained Earnings 111,145 Service Revenue 895,105 Interest Income 1,500 Rent Expense 64,500 Wages Expense 542,260 Supplies Expense 42,520 Depreciation Expense 167,095 Dividends 8,700 _________ Totals $1,560,065 $1,560,065 Prepare only the Asset section of the Classified Balance Sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatted input answer form to allow for acceptable balance sheet format variations. Alpha Dog Company Balance Sheet (partial) Question 14