11. In Column 1, Identify each account listed below as an Asset (A), a Contra-Asset (CA), a Liability (L), an Equity (EQ), a Revenue (R), or an Expense (EXP). 2. In column 2, Identify each account listed as going on the Balance Sheet (BS), Income Statement (IS) or Statement of Retained Earnings (RE). Cross Corporation Adjusted Trial Balance December 31, 2014 Type of Account Financial Statement Account Title Debit Credit 16,200 25,300 Accounts Payable Accounts Receivable Accumulated Depreciation, Machinery 78,000 2,000 Allowance for Doubtful Accounts Bonds Payable Cash 15,000 20,100 Common Stock 30,000 21,000 4,400 Dividends Insurance expense Machinery Notes Receivable 245,500 8,000 20,700 Other Operating Expenses Pald-in Capital in Excess of Par Prepaid Insurance 76,800 3,800 37,000 Rent Expense 44,600 295,200 Retained Earnings Service Fees Earned Supplies Uneamed Revenue 6,700 4,600 Utilities Expense 7,200 Wages Expense 162,700 562,400 Totals 562,400 Using the Trial Balance above, prepare the income Statement, the Statement of Retained Earnings and the Balance Sheet for Cross Corporation as of December 31, 2014 PACO 2 Using the Cross Corporation data from the previous problem, prepare the company's closing entries. 1. Prepare the journal entry required to close the revenue account 2. Prepare the journal entry required to close the expense accounts. (Remember that you must show each expense account and balance in order to close it.) 3. Prepare the Journal entry required to close the dividend account. 4. Post all closing entries to the Retained Earnings T-account below. Prove that the balance in Retained Earnings after closing all closing entries equals the balance shown on the Balance Sheet. (Beginning balance is shown on the Adjusted Trial Balance.) Retained Earnings Page 34