Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account...
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Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title 101 Cash 126 128 167 168 301 302 403 612 Depreciation expense-Equipment 622 637 640 652 Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment A. Cruz, Capital A. Cruz, Withdrawals Services revenue Salaries expense Insurance expense Rent expense Supplies expense Totals Debit $ 18,000 14,900 2,000 23,000 6,000 2,000 26,585 1,915 3,055 1,505 $ 98,960 Credit $ 6,500 46,860 45,600 $ 98,960 1. Prepare the December 31 closing entries. The account number for Income Summary is 901. 2. Prepare the December 31 post-closing trial balance. Note: The A. Cruz, Capital account balance was $46,860 on December 31 of the prior year. Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title 101 Cash 126 128 167 168 301 302 403 612 Depreciation expense-Equipment 622 637 640 652 Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment A. Cruz, Capital A. Cruz, Withdrawals Services revenue Salaries expense Insurance expense Rent expense Supplies expense Totals Debit $ 18,000 14,900 2,000 23,000 6,000 2,000 26,585 1,915 3,055 1,505 $ 98,960 Credit $ 6,500 46,860 45,600 $ 98,960 1. Prepare the December 31 closing entries. The account number for Income Summary is 901. 2. Prepare the December 31 post-closing trial balance. Note: The A. Cruz, Capital account balance was $46,860 on December 31 of the prior year.
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From the image provided we see a trial balance with yearend adjusted balances for Cruz Company as of December 31 The trial balance lists the balances for various accounts including assets like Cash Su... View the full answer
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