Unadjusted Trlal Balance Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable S. Dylan, Capital S. Dylan, Withdrawals Delivery fees earned Depreciation expense-Truck Salaries expense Office supplies expense Interest expense Repairs expense-Trucks Totals Debit $ 16,000 34,000 5,000 350,000 Credit $ 80,000 160,000 24,000 5,000 100,000 307,000 34,000 263,000 40,000 110,000 15,000 5,000 10,000 $779,000 $779,000

Question

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 $40,000.
b. The total amount of accrued interest expense at year-end is $6,000.
c. The cost of unused office supplies still available at year-end is $2,000.
2. Prepare the year-end closing entries for this company and determine the capital amount to be reported on
its year-end balance sheet. Note: The S. Dylan, Capital account balance was $307,000 on December 31
of the prior year. 

Unadjusted Trlal Balance
Account Title
Cash
Accounts receivable
Office supplies
Trucks
Accumulated depreciation-Trucks
Land
Accounts payable
Interest payable
Long-term notes payable
S. Dylan, Capital
S. Dylan, Withdrawals
Delivery fees earned
Depreciation expense-Truck
Salaries expense
Office supplies expense
Interest expense
Repairs expense-Trucks
Totals
Debit
$ 16,000
34,000
5,000
350,000
Credit
$ 80,000
160,000
24,000
5,000
100,000
307,000
34,000
263,000
40,000
110,000
15,000
5,000
10,000
$779,000
$779,000

Image Transcription

Unadjusted Trlal Balance Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable S. Dylan, Capital S. Dylan, Withdrawals Delivery fees earned Depreciation expense-Truck Salaries expense Office supplies expense Interest expense Repairs expense-Trucks Totals Debit $ 16,000 34,000 5,000 350,000 Credit $ 80,000 160,000 24,000 5,000 100,000 307,000 34,000 263,000 40,000 110,000 15,000 5,000 10,000 $779,000 $779,000

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