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 companys adjustments to complete a 10-column work sheet.

1. Unrecorded depreciation on the trucks at the end of the year is $7,682.
2. Total amount of accrued interest expense at year-end is $8,000.
3. Cost of unused supplies still available at year-end is $800.

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 $191,305 on December 31 of the prior year.

1	December 31	Delivery revenueselected answer correct	not attempted	not attempted
		Income summaryselected answer correct	not attempted	not attempted
2	December 31	Income summaryselected answer correct	not attempted	not attempted
		Depreciation expenseTrucksselected answer correct	not attempted	not attempted
		Salaries expenseselected answer correct	not attempted	not attempted
		Supplies expenseselected answer correct	not attempted	not attempted
		Interest expenseselected answer correct	not attempted	not attempted
		Repairs expenseselected answer correct	not attempted	not attempted
3	December 31	Income summaryselected answer correct	not attempted	not attempted
		S. Dylan, Capitalselected answer correct	not attempted	not attempted
4	December 31	S. Dylan, Capitalselected answer correct	not attempted	not attempted
		S. Dylan, Withdrawalsselected answer correct	not attempted	not attempted

Determine the capital amount to be reported on its year-end balance sheet. Note: The S. Dylan, Capital account balance was $191,305 on December 31 of the prior year.

S. Dylan, Capital

not attempted