Question:

Req 1

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Req 2

Following are accounts and year-end adjusted balances of Cruz Company as of December 31 Credit Debit $ 18,000 8,500 2,800 23,000 Number 101 126 128 167 168 307 318 319 403 612 622 637 640 652 Account Title Cash Supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Common stock Retained earnings Dividends Services revenue Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expense Totals $ 6,500 -1,370 42,600 6,000 42,800 2,000 24,952 1,798 2,868 1,412 $ 90,530 $ 90,530 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 Retained Earnings account balance was $42,600 on December 31 of the prior year Complete this questions by entering your answers in the tabs below. Required 1 Required 2 Prepare the December 31 closing entries. The account number for Income Summary is 901 Journal entry worksheet Record the entry to close income summary account. Note: Enter debits before credits. General Journal Debit Credit Date December 31 View general journal Record entry Clear entry Journal entry worksheet