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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Enter everything in the general journal

Transcribed Image Text:Following are accounts and year-end adjusted balances of
Cruz Company as of December 31.
Number
Account Title
Debit
Credit
$ 18,000
14,500
2,000
23,000
101
Cash
Supplies
Prepaid insurance
Equipment
Accumulated depreciation-Equipment
A. Cruz, Capital
A. Cruz, Withdrawals
Services revenue
126
128
167
$ 6,500
45,800
168
301
302
6,000
403
48,000
Depreciation expense-Equipment
Salaries expense
Insurance expense
Rent expense
Supplies expense
2,000
27,984
2,016
3,216
1,584
612
622
637
640
652
Totals
$ 100,300 $ 100,300
1. Prepare the December 31 closing entries. The account
number for Income Summary is 901.
2. Prepare the December 31 post-closing trial balance.
Note: The A. Cruz, Capital account balance was $45,800
on December 31 of the prior year.
Complete this questions by entering your answer
Required 1
Required 2
Prepare the December 31 closing entries. The accountI
901.
View transaction list
Journal entry worksheet
1
2
3 4
Record the entry to close revenue accounts.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Dec 31

Transcribed Image Text:Date
General Journal
Debit
Credit
Dec 31
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