Question

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 $7682 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 $1.500. 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 $193.605 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. erences Reet Red 2A Reg 28 Use the above information about the company's adjustments to complete a 10-column Bork sheet DYLAN DELIVERY COMPANY For Year Ended December 31 Di Asante Uradjusted Tillance De Cr $ Account Title Cash Accounts receivable Office supplies Trucks Dr 14 000 10 000 2.100 27.000 Next Prev

Answer 1

1)

Dylan Delivery Company

Worksheet

For the year ended December 31

	Unadjusted trial balance	adjustments	Adjusted trial balance	Income statement	Balance sheet
Account tittle	Debit	credit	Debit	credit	Debit	credit	Debit	Credit	Debit	credit
Cash	$14000				14000				14000
Account receivable	10000				10000				10000
Office supplies	2100			1000	1100				1100
Trucks	270000				270000				270000
Accumulated depreciation-truck		90000		7682		97682				97682
Land	170000				170000				170000
Account payable		21980				21980				21980
Interest payable		1000		7000		8000				8000
Long-term notes payable		120000				120000				120000
S Dylan capital		193605				193605				193605
S Dylan withdrawals	36000				36000				36000
Delivery fees earned		256060				256060		256060
Depreciation expense trucks	50000		7682		57682		57682
Salaries expense	107545				107545		107545
Office supplies expense	13000		1000		14000		14000
Interest expense	1000		7000		8000		8000
Repairs expense trucks	9000				9000		9000
Totals	682645	682655	15682	15682	697327	697327	196227	256060	501100	441267
Net income							59833			59833
Totals							256060	256060	500100	500100

2a)

Date	General journal	Debit	credit
Dec 31	Deliver fess earned     Income summery	$ 256060	256060
Dec 31	Income summery    Depreciation expense trucks    Salaries expense    Office supplies expense    Interest expense    Repairs expense trucks	$ 180545	50000 107545 13000 1000 9000
Dec 31	Income summery    S. Dylan’s capital	$ 59833	59833
Dec 31	S. Dylan’s capital    S. Dylan’s withdrawals	$ 36000	36000

2b)

Ending S. Dylan, Capital = Beginning S. Dylan, Capital + Net Income - S. Dylan, Withdrawals
Ending S. Dylan, Capital = $193605 + $59833 - $36000
Ending S. Dylan, Capital = $217483