The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31.a. Unrecorded depreciation on the trucks at the end of the year is $8,231. b. The total amount of accrued interest expense at year-end is $8,000. c. The cost of unused office supplies still available at year-end is $1,800.1. Use the above information about the company’s adjustments to complete a 10-column worksheet. 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 $204,127 on December 31 of the prior year.* **Dylan Delivery Company Work Sheet**_For Year Ended December 31_| Account Title | Unadjusted Trial Balance | Adjustments | Adjusted Trial Balance | Income Statement | Balance Sheet and Statement of Owner’s Equity ||--------------------------------------|--------------------------|-------------|-----------------------|------------------|---------------------------------------------|| | Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr | Dr | Cr || Cash | $15,000 | | | | | | | | | || Accounts receivable | $14,000 | | | | | | | | | || Office supplies | $2,800 | | | | | | | | | || Trucks | $340,000| | | | | | | | | || Accumulated depreciation—Trucks | | $100,000 | | | | | | | | || Land | $170,000| | | | | | | | | || Accounts payable | | $23,550 | | | | | | | | || Interest payable | | $2,000 | | | | | | | | || Long-term notes payable | | $130,000 | | | | | | | | || S. Dylan, Capital | | $204,127 | | | | | | | | || S. Dylan, Withdrawals | $35,000 | | | | | | | | | || Delivery fees earned | | $274,350 | | | | | | | | || Depreciation expense—Trucks | $20,000 | | | | | | | | | || Salaries expense | $

Adjustment entries are made to record the correct balance of each account at the end of the year…

Answered: The following unadjusted trial balance…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Your staff person has provided you with the following journal entry for January 20x1 depreciation. The monthly deprecation is supposed to be $100.00. What is wrong with this entry?
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Required information [The following information applies to the questions displayed below.] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense Using the following additional information for Leone Company, complete the requirements below. Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Sales Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Required 1 Required: 1. Prepare the schedule of cost of goods manufactured for…

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