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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
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.
- Unrecorded depreciation on the trucks at the end of the year is $6,310.
- The total amount of accrued interest expense at year-end is $8,000.
- 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.
2b.Determine the capital amount to be reported on the December 31, balance sheet.Note: S. Dylan, Capital was $200,351on December 31 of theprior year.
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