Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital A. Cruz, Withdrawals Services revenue 302 403 612 622 637 640 652 Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expense Totals Required 1 Required 2 Debit $ 18,000 9,900 2,000 23,000 View transaction list 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 $44,995 on December 31 of the prior year. Complete this questions by entering your answers in the tabs below. Journal entry worksheet Prax Credit 6,000 2,000 19,939 1,436 2,291 1, 129 $ 85,695 $ 85,695 Prepare the December 31 closing entries. The account number for Income Summary is 901. $ 6,500 44,995 34,200 1 of 4 H Next Check my work
Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital A. Cruz, Withdrawals Services revenue 302 403 612 622 637 640 652 Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expense Totals Required 1 Required 2 Debit $ 18,000 9,900 2,000 23,000 View transaction list 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 $44,995 on December 31 of the prior year. Complete this questions by entering your answers in the tabs below. Journal entry worksheet Prax Credit 6,000 2,000 19,939 1,436 2,291 1, 129 $ 85,695 $ 85,695 Prepare the December 31 closing entries. The account number for Income Summary is 901. $ 6,500 44,995 34,200 1 of 4 H Next Check my work
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
3

Transcribed Image Text:Following are accounts and year-end adjusted balances of Cruz Company as of December 31.
Number Account Title
101
Cash
126
128
167
Equipment
168 Accumulated depreciation-Equipment
301
A. Cruz, Capital
302
A. Cruz, Withdrawals
403
Services revenue
Supplies
Prepaid insurance
612 Depreciation expense-Equipment
622 Salaries expense
637
Insurance expense
640
652
Rent expense
Supplies expense
Totals
Required 1
Required 2
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 $44,995 on
December 31 of the prior year.
Complete this questions by entering your answers in the tabs below.
View transaction list
Debit
$ 18,000
9,900
2,000
23,000
Journal entry worksheet
Credit
< Prev
$ 6,500
44,995
34,200
Prepare the December 31 closing entries. The account number for Income Summary is 901.
1 of 4
6,000
2,000
19,939
1,436
2,291
1,129
$ 85,695 $ 85,695
Check my work
Next >
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