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Question - Preparing a work sheet and recording closing entries - The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31.
1. Unrecorded depreciation on the trucks at the end of the year is $6,310.
2. The total amount of accrued interest expense at year-end is $8,000.
3. The cost of unused office supplies still available at year-end is $1,400.
Required -
1. Use the above information about the company's adjustments to complete a 10-column work sheet.
2a. Prepare the year-end closing entries for Dylan Delivery Company as of December 31.
2b. Determine the capital amount to be reported on the December 31, balance sheet. Note: S. Dylan, Capital was $200,351 on December 31 of the prior year.
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