Question: Please help me solve this Accounting question Exercise 4-7 Preparing a work sheet and recording closing entries LO P1, P2 The following unadjusted trial balance

 Please help me solve this Accounting question Exercise 4-7 Preparing a

Please help me solve this Accounting question

Exercise 4-7 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, 2017 a. Unrecorded depreciation on the trucks at the end of the year is $7,682. 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 $1,400. 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, 2017 2b. Determine the capital amount to be reported on the December 31, 2017 balance sheet. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Reg 2B Use the above information about the company's adjustments to complete a 10-column work sheet. DYLAN DELIVERY COMPANY Work Sheet For Year Ended December 31, 2017 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 $ Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land 14,000 15,500 2,400 360,000 $ 100,000 170,000 21.980 4.000 70,000 Accounts payable Interest payable Long-term notes payable S. Dylan, Capital S. Dylan, Withdrawals Delivery fees earned Depreciation expense Trucks Salaries expense Office supplies expense Interest expense Repairs expense-Trucks Totals 325,405 34,000 256,060 50,000 107,545 14,000 4,000 6.000 777,445 $ $ 777.445 $ $ 0 0 $ 0 $ 0 0 $ 0 0 0 0 0 Net Income Totals S $ 0 0 S 0 $ 01 0

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!