Business, 23.09.2021 04:40 alexandramendez0616

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 9,600 128
Prepaid insurance 2,000 167
Equipment 23,000 168
Accumulated depreciation—Equipment $ 6,500 301
A. Cruz, Capital 40,872 302
A. Cruz, Withdrawals 6,000 404
Services revenue 48,100 612
Depreciation expense—Equipment 2,000 622
Salaries expense 28,042 637
Insurance expense 2,020 640
Rent expense 3,223 652
Supplies expense 1,587
Totals $ 95,472 $ 95,472
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 $40,872 on December 31 of the prior year.

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

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