Question

The following adjusted trial balance contains the accounts and bal fiscal year ances of Cruz Company as of December 31, 2017, the end of its Account TitleDebit Credit No 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 381 T. Cruz, Capital 302 T. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense s 18,00e 8,700 2,0ee 23,000 s 6,500 39.725 6,000 49,800 2,000 28,567 2,058 3,283 3 612 Totals s 95,225 3 95,225 1. Prepare the December 31,2017 closing entries for Cruz Com 2. Prepare the December 31,2017, post-closing trial bolence for Cruz Compahy pony Assume the account number for Income Summary is Complete this questions by entering your answers in the tabs below.

Answer 1

REQUIRED 1

DATE

General JOURNAL

Debit

Credit

31-Dec

Service revenue a/c                                               dr

49000

to income summary a/c

49000

31-Dec

income summary a/c                                              dr

37525

to depreciation expense a/c -Equipments

2000

to salaries expenses a/c

28567

to insurance expenses a/c

2058

to rent expenses a/c

3283

to supplies expenses a/c

1617

31-Dec

income summary a/c                                               dr

11475

to cruz capital

11475

31-Dec

cruz capital a/c                                                       dr

6000

to cruz withdrawal

6000

REQUIRED 2

CRUZ COMPANY

POST CLOSING TRIAL BALANCE

DECEMBER 31 2017

Debit

Credit

Cash

18000

supplies

8700

prepaid Insurances

2000

Equipment

23000

Accumulated depreciation- depreciation

6500

cruz captal

45200

totals

51700

51700