The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31.

No.	Account Title	Debit			Credit
101	Cash	$	18,000
126	Supplies		12,800
128	Prepaid insurance		2,000
167	Equipment		23,000
168	Accumulated depreciationEquipment				$	6,500
301	A. Cruz, Capital					46,630
302	A. Cruz, Withdrawals		6,000
404	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	$	91,930		$	91,930

1. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. 2. Prepare the December 31, post-closing trial balance for Cruz Company. Note: A. Cruz, Capital was $46,630 on December 31 of the prior year.

repare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901.

Journal entry worksheet

• Record the entry to close revenue accounts.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec 31

Complete this questions by entering your answers in the tabs below.

• Required 1
• Required 2

Prepare the December 31, post-closing trial balance for Cruz Company. Note: A. Cruz, Capital was $46,630 on December 31 of the prior year.

CRUZ COMPANY
Post-Closing Trial Balance
December 31
	Debit	Credit
Totals	$0	$0