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Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title Debit Credit 101 Cash $18,000 126 Supplies 8,800
Following are accounts and year-end adjusted balances of Cruz Company as of December 31. Number Account Title Debit Credit 101 Cash $18,000 126 Supplies 8,800 128 Prepaid insurance 2,000 167 Equipment 23,000 168 Accumulated depreciation-Equipment $6,500 301 A. Cruz, Capital 6,000 43,180 302 A. Cruz, Withdrawals 36,800 403 Services revenue 2,000 612 Depreciation expense-Equipment 21,454 622 Salaries expense 1,546 637 Insurance expense 2,466 640 Rent expense 1,214 652 Supplies expense $86,480 $86,480
- Prepare the December 31 closing entries. The account number for income summary is 901.
- Prepare the December 31 post-closing trial balance. Note: the A. Cruz, capital account balance was $43,180 on December 31 of the prior year.
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