The following adjusted trial balance contains the accounts and yearend balances of Cruz Company as of December Prepare the December closing entries for Cruz Company. Assume the account number for Retained Earnings is Prepare the December, postclosing trial balance for Cruz Company.
Note: The Retained Earnings account balance was $ on December of the prior year.
tableNotableCruz CompanyAdjusted Trial BalanceDecember Account TitleDebit,,CreditCash,$Supplies,,Prepaid insurance,,Equipment,,Accumulated depreciation Equipment,,,$Common stock,,,,Retained earnings,,,,Dividends,,Services revenue,,,,Depreciation expense Equipment,,Salaries expense,,Insurance expense,,Rent expense,,Supplies expense,,Income,,,,Strtarsary$$
