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Prepare the december 31 2013 closing entries for cruz

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Reference no: EM13578658

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.


2.

Prepare the December 31, 2013, post-closing trial balance for Cruz Company.


Reference no: EM13578658

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