The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31,
Question:
The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year.
(1) Prepare the December 31, 2017, closing entries for Cruz Company. Assume the account number for Income Summary is 901.
(2) Prepare the December 31, 2017, post-closing trial balance for Cruz Company.
Transcribed Image Text:
No. Account Title Deblt Credit $19,000 101 (.ir 11 26 Supplies 3,000 67 Equipment. 168 Accumulated depreciation-Equipment 01 T. Cruz, Capita 302 T. Cruz, Withdrawals 04 Services revenue 24,000 $ 7,500 47,600 7,000 44,000 622 Salaries expense 22,000 2,500 3,400 2,200 652 Supplies expense Totals
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (10 reviews)
1 2017 Dec 31 Services Revenue 404 44000 Income Summary 901 44000 Clos...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
Question Posted:
Students also viewed these Cost Accounting questions
-
The following adjusted trial balance contains the accounts and balances of Showers Company as of December 31, 2011, the end of its fiscal year. (1) Prepare the December 31, 2011, closing entries for...
-
The following adjusted trial balance contains the accounts and balances of Ferrara Company as of December 31, 2011, the end of its fiscal year. (1) Prepare the December 31, 2011, closing entries for...
-
The following adjusted trial balance contains the accounts and balances of Stilz Co. as of December 31, 2014, the end of its fiscal year: Required Prepare the closing entries for the company. No...
-
Please graphically demonstrate the effects on the level of prices and the value of money if consumers increase their spending due to stock market boom and therefore make more transactions. On the...
-
How do creativity and innovation differ? Give an example of each.
-
In Problem write the solution of the linear system corresponding to each reduced augmented matrix. -2 0 1 1 3
-
Bridget applied for a TV news commentators job. She has adequate experience to satisfy the job description but was denied the job. Bridget has a substantial birthmark that covers one side of her...
-
Refer to the data in Exercise 1025, regarding Canandaigua Container Company. Prepare journal entries to: In Exercise 1025, Canandaigua Container Company manufactures recyclable soft-drink cans. A...
-
The following trial balance was extracted from the books of accounts of KOWA partnership operated by Kori and Wangui partners for the period ended 31/12/2018 after preparing a trading account. KOWA...
-
TEK management attempts to maintain a reasonable ratio of debt to equity. Most firms prefer relatively low levels of debt in their capital structures. Why? What other approaches could TEK use to...
-
The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31, 2017. 1. Use the following information about the company's adjustments to...
-
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company's first month. April 1 Nozomi invested $30,000 cash and computer...
-
Annual income for ages 25 to 85 is given graphically. People sometimes spend less than their income (to save for retirement) or more than their income (taking out a loan). The process of spreading...
-
A freelance artist is paid $3,920 for a contracted job. The money is invested in a savings account earning 3.05% annual interest compounded monthly. What is the total account balance after 6 months?
-
Zoey contributed land with a tax basis of $45,000 and a fair market value of $100,000 in exchange for a 20% percent interest in the newly formed ZAT Partnership. All other partners contributed cash...
-
Write java IF statement that prints true if both x and y are positive numbers. 3. If integer variable currentNumber is odd, change its value so that it is now 3 times currentNumber plus 1, otherwise...
-
2. German and Elena were residents of Puerto Rico in 2022. They are age 72 and file a joint return. German is retired from the U.S. Postal Service and Elena is retired from the U.S. Veterans Affairs....
-
After writing a progam for each question, I need to check if all methods are working with TestNameClass.java, which contains a main method. 1.I'm struggling to program a class called Name that...
-
Design a survey form of your own. Fill it out as it might have been completed during the database design forHenry Books. For any questions you have too little information to answer, make a reasonable...
-
For liquid water the isothermal compressibility is given by; where r and b are functions of temperature only. If 1 kg of water is compressed isothermally and reversibly from I to 500 bar at 60(C. how...
-
On August 2, 2013, Jun Co. receives a $ 6,000, 90-day, 12% note from customer Ryan Albany as payment on his $ 6,000 account. (1) Compute the maturity date for this note. (2) Prepare Juns journal...
-
The following data are taken from the comparative balance sheets of Ruggers Company. Compute and interpret its accounts receivable turnover for year 2013 (competitors average a turnover of7.5). 2013...
-
Levine Company uses the perpetual inventory system and allows customers to use two credit cards in charging purchases. With the Suntrust Bank Card, Levine receives an immediate credit to its account...
-
Of what use are government and business budgets to reporters and where would an agency or business hide spending that it wasn't especially interested in sharing with the public? (Please keep in mind...
-
Mom and Dad owned a house as tenants by the entirety until Dads death last year. Mom then transferred the house to herself as life tenant, with the remainder to her son Sonny as remainderman. Just...
-
Write a brief story of your life and career to date. Why and how have you become who you are today? What are your strengths and weaknesses? Now write your story again through the eyes of people who...
Study smarter with the SolutionInn App