Question
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
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 14,300 128 Prepaid insurance 2,000 167 Equipment 23,000 168 Accumulated depreciationEquipment $ 6,500 301 A. Cruz, Capital 48,130 302 A. Cruz, Withdrawals 6,000 403 Services revenue 38,800 612 Depreciation expenseEquipment 2,000 622 Salaries expense 22,620 637 Insurance expense 1,630 640 Rent expense 2,600 652 Supplies expense 1,280 Totals $ 93,430 $ 93,430 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 $48,130 on December 31 of the prior year
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