The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as...

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Accounting

The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as
of December 31.
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 at year-end is $6,000.
c. Cost of unused supplies still available at year-end is $2,000.
(a) Prepare the year-end closing entries for this company. (b) Determine the capital amount to be
reported on its year-end balance sheet. Note: The S. Dylan, Capital account balance was $307,000 on
December 31 of the prior year.
Exercise 4-7
Preparing a work sheet and
recording closing entries
P1 P2
Check Adj. trial balance
totals, $820,000; Net income,
$39,000
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