The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December
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. Total amount of accrued interest expense and interest payable at year-end should be $6,000.
c. Cost of unused supplies still available at year-end is $2,000.
2.
(a) Prepare the year-end closing entries for this company.
(b) Determine the retained earnings to be reported on its year-end balance sheet.
The Retained Earnings account balance was $257,000 on December 31 of the prior year.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: