Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3 The following...
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Accounting
Exercise 4-9 Preparing closing entries and a post-closing trial balance LO P2, P3
The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2017, the end of its fiscal year.
This is an example how looks but there four sections.
The second part is here.
Account Title Debit Credit No 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 T. Cruz, Capital 302 T. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 63/ Insurance expense 640 Rent expense 652 Supplies expense $19,000 13,000 3,000 24,000 7,500 47,600 7,000 44,000 3,000 22,000 2,500 3,400 2,200 Totals $99,100 $99,100 1. Prepare the December 31, 2017, closing entries for Cruz Company. Assume the account number for Income Summary is 901 2. Prepare the December 31, 2017, post-closing trial balance for Cruz Company
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