Homework Help is Here – Start Your Trial Now!
Business
Accounting
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 >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
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 >
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS