Question

The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit DeComplete this questions by entering your answers in the tabs below. Required 1 Required 2 Prepare the December 31, closing enComplete this questions by entering your answers in the tabs below. Required 1 Required 2 Prepare the December 31, post-closi

0 0
Add a comment Improve this question Transcribed image text
Answer #1
Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks!
Cruz Company
Answer 1
Closing Entries
Account Debit $ Credit $
Service Revenue       43,300.00
Income Summary        43,300.00
Income Summary       33,393.00
Depreciation Expense          2,000.00
Depreciation Expense        25,244.00
Insurance Expense          1,819.00
Rent Expense          2,901.00
Supplies Expense          1,429.00
Income Summary          9,907.00
A. Cruz Capital          9,907.00
A. Cruz Capital          6,000.00
A. Cruz Withdrawals          6,000.00
Statement of Owners Equity Amount $
A. Cruz Capital- Opening       45,493.00
Add: Net Income          9,907.00
Less: A. Cruz Withdrawals          6,000.00
A. Cruz capital- Closing       49,400.00
Answer 2
Closing Trial Balance
Account Titles Debit Credit
Cash       18,000.00
Supplies       12,900.00
Prepaid Insurance          2,000.00
Equipment       23,000.00
Accumulated Depreciation          6,500.00
A. Cruz Capital        49,400.00
Total       55,900.00       55,900.00
Add a comment
Know the answer?
Add Answer to:
The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...

    The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 13,300 2,000 23,000 $ 6,500 45,480 Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 301 A. Cruz, Capital 302 A. Cruz, withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 44,800 2.000 26,118 1.882 3.002 1.478 $96,780 $96.780 1. Prepare the...

  • The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...

    The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $ 18,000 14,400 2,089 23,000 14,40 $ 168 Accum 6.500 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment Accumulated depreciation- © Equipment 301 A. Cruz, Capital 302 A. Cruz, Withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 45,150 6,000 50,000 2,000 29,150 2,100 3,350...

  • The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...

    The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $18,000 14,400 2,000 23,000 $ 6,500 7,482 41,600 NO. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 35,700 2,000 20,813 1,499 2,392 1,178 $91,282 $91,282...

  • The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...

    The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31 0. Credit Debit $18,000 11,000 2,000 Account Title 101 Cash 126 Supplies 128 Prepaid Insurance 167 Equipment Accumulated depreciation Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Service revenue Depreciation expense ** Equipment 622 Salarie expense 637 Insurance expense 640 Rent expense 652 Supplies expense Total 23,000 $ 6,500 9,982 34,600 6,000 39,700 2,000 23,145 1,667 2.660 1.310 $90,782 $90,...

  • 1 ts The following adjusted trial balance contains the accounts and year-end balances of Cruz Company...

    1 ts The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. 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 A. Cruz, Capital 47,600 302 A. Cruz, Withdrawals 7,000 494 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,...

  • The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...

    The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31 Credit Debit $18,000 14,400 2,000 23,000 $ 6,500 9,182 36,600 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 47,700 2,000 27,809 2,003 3,196 1,574 $99,982 $99,982 1....

  • The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...

    The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. No. Account Title 181 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipetent 307 Common stock 318 Retained earnings 319 Dividends 484 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals Debit Credit $18,000 12,400 2,099 23,000 $ 6,500 13,675 33,600 6,000 35,800 2,899 20,405 1,470 2.345 1,155 $88,775 $88,775...

  • The following adjusted trial balance contains the accounts and bal fiscal year ances of Cruz Company...

    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...

  • The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of...

    The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31 No. Account Title 101 Cash 126 Supplies 128 Prepaid Insurance 167 Equipment 168 Accumulated depreciation-Equipment 3e7 Connon stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals Debit Credit $18,000 14,900 2.ee 23,eee $ 6,500 13,982 35,600 6,800 35,700 2,000 20,813 1,499 2,392 1,178 $91,782 $91,782 1....

  • the following adjusted trial balance contains the account and year-end balances of cruz compamy as of...

    the following adjusted trial balance contains the account and year-end balances of cruz compamy as of decemebrt 31. Help Sa The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT