The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2013, the end of its fiscal year.
| No. |
Account Title |
Debit |
Credit |
| 101 |
Cash |
$ |
19,000 |
|
|
|
|
| 126 |
Supplies |
|
13,000 |
|
|
|
|
| 128 |
Prepaid insurance |
|
3,000 |
|
|
|
|
| 167 |
Equipment |
|
24,000 |
|
|
|
|
| 168 |
Accumulated depreciation-Equipment |
|
|
|
$ |
7,500 |
|
| 301 |
T. Cruz, Capital |
|
|
|
|
47,600 |
|
| 302 |
T. Cruz, Withdrawals |
|
7,000 |
|
|
|
|
| 404 |
Services revenue |
|
|
|
|
44,000 |
|
| 612 |
Depreciation expense-Equipment |
|
3,000 |
|
|
|
|
| 622 |
Salaries expense |
|
22,000 |
|
|
|
|
| 637 |
Insurance expense |
|
2,500 |
|
|
|
|
| 640 |
Rent expense |
|
3,400 |
|
|
|
|
| 652 |
Supplies expense |
|
2,200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals |
$ |
99,100 |
|
$ |
99,100 |
|
|
|
|
|
|
|
|
|
|
| 1. |
Prepare the December 31, 2013, closing entries for Cruz Company. Assume the account number for Income Summary is 901.
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| 2. |
Prepare the December 31, 2013, post-closing trial balance for Cruz Company.
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