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Exercise 4-7 (Algo) Preparing a work sheet and recording closing entries LO P1, P2 The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31. 1. Use the following information about the company's adjustments to complete a 10-column work sheet a. Unrecorded depreciation on the trucks at the end of the year is $6,584. b. Total amount of accrued interest expense at year-end is $8,000. c. Cost of unused supplies still available at year-end is $1,400. 2a. Prepare the year-end closing entries for Dylan Delivery Company as of December 31. 2b. Determine the capital amount to be reported on its year-end balance sheet. Note: The S. Dylan, Capital account balance was $192,262 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Reg 28 Use the following information about the company's adjustments to complete a 10-column work sheet. DYLAN DELIVERY COMPANY Work Sheet For Year Ended December 31 Account Title Cash Accounts receivable Supplies Trucks Accumulated depreciation-Trucks Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit $ 12,000 24,000 2,400 220,000 $ 100,000 140,000 Land Accounts payable 18,840 Interest payable 3,000 Long-term notes payable 140,000 S. Dylan, Capital 192,262 S. Dylan, Withdrawals 34,000 Delivery revenue 219,480 Depreciation expense-Trucks 20,000 Salaries expense 92,182 Supplies expense 19,000 Interest expense 3,000 Repairs expense Totals Net Income Totals 7,000 $ 673,582 $ 673,562 Req 2A >

Exercise 4-7 (Algo) Preparing a work sheet and recording closing entries LO P1, P2 The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31. 1. Use the following information about the company's adjustments to complete a 10-column work sheet a. Unrecorded depreciation on the trucks at the end of the year is $6,584. b. Total amount of accrued interest expense at year-end is $8,000. c. Cost of unused supplies still available at year-end is $1,400. 2a. Prepare the year-end closing entries for Dylan Delivery Company as of December 31. 2b. Determine the capital amount to be reported on its year-end balance sheet. Note: The S. Dylan, Capital account balance was $192,262 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Reg 28 Use the following information about the company's adjustments to complete a 10-column work sheet. DYLAN DELIVERY COMPANY Work Sheet For Year Ended December 31 Account Title Cash Accounts receivable Supplies Trucks Accumulated depreciation-Trucks Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit $ 12,000 24,000 2,400 220,000 $ 100,000 140,000 Land Accounts payable 18,840 Interest payable 3,000 Long-term notes payable 140,000 S. Dylan, Capital 192,262 S. Dylan, Withdrawals 34,000 Delivery revenue 219,480 Depreciation expense-Trucks 20,000 Salaries expense 92,182 Supplies expense 19,000 Interest expense 3,000 Repairs expense Totals Net Income Totals 7,000 $ 673,582 $ 673,562 Req 2A >

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 10SPB
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Exercise 4-7 (Algo) Preparing a work sheet and recording closing entries LO P1, P2 The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31. 1. Use the following information about the company's adjustments to complete a 10-column work sheet a. Unrecorded depreciation on the trucks at the end of the year is $6,584. b. Total amount of accrued interest expense at year-end is $8,000. c. Cost of unused supplies still available at year-end is $1,400. 2a. Prepare the year-end closing entries for Dylan Delivery Company as of December 31. 2b. Determine the capital amount to be reported on its year-end balance sheet. Note: The S. Dylan, Capital account balance was $192,262 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Reg 28 Use the following information about the company's adjustments to complete a 10-column work sheet. DYLAN DELIVERY COMPANY Work Sheet For Year Ended December 31 Account Title Cash Accounts receivable Supplies Trucks Accumulated depreciation-Trucks Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit $ 12,000 24,000 2,400 220,000 $ 100,000 140,000 Land Accounts payable 18,840 Interest payable 3,000 Long-term notes payable 140,000 S. Dylan, Capital 192,262 S. Dylan, Withdrawals 34,000 Delivery revenue 219,480 Depreciation expense-Trucks 20,000 Salaries expense 92,182 Supplies expense 19,000 Interest expense 3,000 Repairs expense Totals Net Income Totals 7,000 $ 673,582 $ 673,562 Req 2A >
Transcribed Image Text:Exercise 4-7 (Algo) Preparing a work sheet and recording closing entries LO P1, P2 The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31. 1. Use the following information about the company's adjustments to complete a 10-column work sheet a. Unrecorded depreciation on the trucks at the end of the year is $6,584. b. Total amount of accrued interest expense at year-end is $8,000. c. Cost of unused supplies still available at year-end is $1,400. 2a. Prepare the year-end closing entries for Dylan Delivery Company as of December 31. 2b. Determine the capital amount to be reported on its year-end balance sheet. Note: The S. Dylan, Capital account balance was $192,262 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Reg 28 Use the following information about the company's adjustments to complete a 10-column work sheet. DYLAN DELIVERY COMPANY Work Sheet For Year Ended December 31 Account Title Cash Accounts receivable Supplies Trucks Accumulated depreciation-Trucks Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner's Equity Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit $ 12,000 24,000 2,400 220,000 $ 100,000 140,000 Land Accounts payable 18,840 Interest payable 3,000 Long-term notes payable 140,000 S. Dylan, Capital 192,262 S. Dylan, Withdrawals 34,000 Delivery revenue 219,480 Depreciation expense-Trucks 20,000 Salaries expense 92,182 Supplies expense 19,000 Interest expense 3,000 Repairs expense Totals Net Income Totals 7,000 $ 673,582 $ 673,562 Req 2A >
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