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

Account Title
Debit Credit
101 Cash $18,000
Supplies 9,800
Prepaid insurance 2,000
Equipment 168 23,000
Accumulated depreciation Equipment $6500
Common stock 6793
Retained earnings 35,600
Dividends 6000
Services revenue 43,300
Depreciation expense-Equipment 2000
Salaries expense 25,244
Insurance expense 1819
Rent expense 2901
Supplies expense $1429
Totals $92,193 $92,193

a. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901.
b. Prepare the December 31, post-closing trial balance for Cruz Company. Note: The Retained Earnings account balance was $35,600 on December 31 of the prior year.

Suppose that the world price of steel is $100 a ton, india does not trade internationally, and the equilibrium price of steel in india is $60 a ton. suppose that india now begins to trade internationally. the price of steel in india the quantity of steel produced in india a. does not change; does not change b. falls; increases c. falls; decreases d. rises; decreases e. rises; increases the quantity of steel bought by india india steel. a. increases; exports b. decreases; imports c. decreases; exports d. does not change; neither imports nor exports e. increases; imports

Which of the following services will be provided by a full-service broker but not by a discount broker? i. research of potential investment opportunities ii. purchase and sale of stock at your request iii. recommendation of investments a. i and iii b. ii only c. iii only d. i, ii, and ii

Special order carson manufacturing, inc., sells a single product for $36 per unit. at an operating level of 8,000 units, variable costs are $18 per unit and fixed costs $10 per unit. carson has been offered a price of $20 per unit on a special order of 2,000 units by big mart discount stores, which would use its own brand name on the item. if carson accepts the order, material cost will be $3 less per unit than for regular production. however, special stamping equipment costing $4,000 would be needed to process the order; the equipment would then be discarded. assuming that volume remains within the relevant range, prepare an analysis of differential revenue and costs to determine whether carson should accept the special order. use a negative sign with answer to only indicate an income loss from special order; otherwise do not use negative signs with your answers.