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 $5,761. b. Total amount of accrued interest expense at year-end is $8,000. c. Cost of unused supplies still available at year-end is $1,300. 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 $278,429 on December 31 of the prior year. Account Title Cash Accounts receivable Supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable S. Dylan, Capital S. Dylan, Withdrawals Delivery revenue Depreciation expense Trucks Salaries expense Supplies expense Interest expense Repairs expense Totals Net Income Totals Unadjusted Trial Balance Debit Credit $ 70,000 16,485 4.000 150,000 278,429 192,045 $ 10,500 26,500 2,300 370,000 120,000 30,000 40,000 80,659 18,000 4,000 9,000 $710,959 $ 710,959 $ For Year Ended December 31 Adjustments Debit $ 5,761 1,000 6,761 Adjusted Trial Balance Credit Debit $ 10,500 26.500 1,300 370,000 $ 1,000 $408,300 $ Credit $ 1,000 0 $ Income Statement Debit Credit 0 0 $ Balance Sheet and Statement of Owner's Equity Debit Credit 0 0 $ 0 0 0 0 Journal entry worksheet 1 2 3 4 Record the entry to close revenue accounts. Note: Enter debits before credits. Date General Journal December 31 Debit Credit > Journal entry worksheet Journal entry worksheet