Preparing a work sheet and recording closing entries The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31, 2008, its first year of operations.
(1) Use the following information about the company’s adjustments to complete a 10-column work sheet for Dylan Delivery Company.

a. Unrecorded depreciation on the trucks at the end of the year is \($40,000.\)

b. The total amount of accrued interest expense at year-end is \($6,000.\)
c. The cost of unused office supplies still available at the year-end is \($2,000.\)
A a ; :
(2) Prepare the year-end closing entries for Dylan Delivery Company, and determine the capital amount to be reported on its year-end balance sheet.

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2 Cash 4 Office supplies Trucks Mice Excel Brok Ee Edt View It Fumat Took Data Accounting Window Account Title 3Accounts receivable 6 Accumulated depreciation-Trucks Debit Credit $ 16,000 34,000 5,000 350,000 $ 80,000 7 Land 160,000 8 Accounts payable 24,000 9 Interest payable 5,000 10 Long-term notes payable 100,000 S. Dylan, Capital 307,000 12 S. Dylan, Withdrawals 34,000 13 Delivery fees earned 263,000 14 Depreciation expense-Truck 40,000 15 Salaries expense 110,000 16 Office supplies expense 15,000 17 Interest expense 5,000 18 Repairs expense-trucks 19 Totals 10,000 $779,000 $779,000 20