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. 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 t. cruz, capital 47,600 302 t. cruz, withdrawals 7,000 404 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 $ 99,100 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

Case in point 2.4 attaway airlines, part two back at attaway airlines, the morning meeting ended with no agreement between dan esposito and molly kinnon. in fact, a new issue arose. molly now says that the new accounting system is entitled to the highest priority because the federal government soon will require the reporting of certain types of company-paid health insurance premiums. because the current system will not handle this report, she insists that the entire accounting system is a nondiscretionary project. as you might expect, dan is upset. can part of a project be nondiscretionary? what issues need to be discussed? the committee meets again tomorrow, and the members will look to you, as the it director, for guidance.

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

What is the second step in communication planning? determine the purpose of the message outline the communication for delivery determine the best channel of communication clarify objectives identify the audience