Following are accounts and yearend adjusted balances of Cruz Company as of December
Number Account Title Debit Credit
Cash $
Supplies
Prepaid insurance
Equipment
Accumulated depreciationEquipment $
Common stock
Retained earnings
Dividends
Services revenue
Depreciation expenseEquipment
Salaries expense
Insurance expense
Rent expense
Supplies expense
Totals $ $
Prepare the December closing entries. The account number for Income Summary is
Prepare the December postclosing trial balance. Note: The Retained Earnings account balance was $ on December of the prior year.
