The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31,2017.

Unadjusted Trial Balance
Account Title	Debit	Credit
Cash	$16,000
Accounts receivable	34,000
Office supplies	5,000
Trucks	350,000
Accumulated depreciation - Trucks		$80,000
Land	160,000
Accounts Payable		24,000
Interest payable		5,000
Long-term notes payable		100,000
S. Dylan, Capital		307,000
S. Dylan, Withdrawals	34,000
Delivery fees earned		263,000
Depreciation expense - Truck	40,000
Salaries expense	110,000
Office supplies expense	15,000
Interest expense	5,000
Repairs expense - Trucks	10,000
Totals	$779,000	$779,000

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Use the following information about the company's adjustments to complete a 10-column work sheet.( I find it easier to write the adjusting journal entries first.) a: Unrecorded depreciation on the trucks at the end of the year is $40,000. (Don't forget the description for each entry.) b: The total amount of accrued interest expense at year-end is $6,000. c: The cost of unused office supplies still available at year-end is $2,000. -

a: Depreciation Expense-Truck????????? Accumulated Depreciation -Truck???.. b: Interest Expense???????????????.. Interest Payable?????????????... c: Office supplies expense???????????. Office supplies??????????????..

DYLAN DELIVERY COMPANY

Work Sheet

For Year Ended December 31, 2017

Balance Sheet & Statement of Owner's Equity

Unadjusted Trial Balance

Adjustments

Adjusted Trial Balance

Income Statement

Account Title

Debit

Credit

Debit

Credit

Debit

Credit

Debit

Credit

Debit

Credit

Cash

$16,000

Accounts receivable

34,000

Office supplies

5,000

Trucks

350,000

Accumulated depreciation - Trucks

$80,000

Land

160,000

Accounts Payable

24,000

Interest payable

5,000

Long-term notes payable

100,000

S. Dylan, Capital

307,000

S. Dylan, Withdrawals

34,000

Delivery fees earned

263,000

Depreciation expense - Truck

40,000

Salaries expense

110,000

Office supplies expense

15,000

Interest expense

5,000

Repairs expense - Trucks

10,000

Totals

$779,000

$779,000

Net Income

Totals

Prepare the year-end closing entries for this company and determine the capital amount to be reported on its year-end balance sheet.

Delivery Fees Earned????????????.. Income Summary????????????.. Income Summary??????????????.. Depreciation Expense-Trucks?????? Salaries Expense????????????? Office Supplies Expense????????? Interest Expense????????????? Repairs Expense - Trucks????????. Income Summary??????????????.. S. Dylan, Capital?????????????. S. Dylan, Capital???????????????. S. Dylan, Withdrawals?????????? S. Dylan, Capital on the balance sheet

Beginning Balance??????????????? Add: Net income??????????????. Less: Withdrawals?????????????.. Ending balance????????????????.. 9XIRN?p(r0?4

ACCT110 Week 4 - Chapter 4 Homework Every response is 1 pt. Each except in the worksheet - the responses there are worth 1/2 pt. each. The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of Dece Unadjusted Trial Balance Account Title Debit Cash $16,000 Accounts receivable 34,000 Office supplies 5,000 Trucks 350,000 Accumulated depreciation - Trucks Land 160,000 Accounts Payable Interest payable Long-term notes payable S. Dylan, Capital S. Dylan, Withdrawals 34,000 Delivery fees earned Depreciation expense - Truck 40,000 Salaries expense 110,000 Office supplies expense 15,000 Interest expense 5,000 Repairs expense - Trucks 10,000 Totals $779,000 Credit $80,000 24,000 5,000 100,000 307,000 263,000 $779,000 Use the following information about the company's adjustments to complete a 10-column work sheet.( I find it e 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 year-end is $2,000. a: Depreciation Expense-Truck........................... Accumulated Depreciation -Truck........... b: Interest Expense............................................... Interest Payable.......................................... c: Office supplies expense.................................. Office supplies............................................ DYLAN DELIVERY COMPANY Work Sheet For Year Ended December 31, 2017 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation - Trucks Land Accounts Payable Interest payable Long-term notes payable S. Dylan, Capital S. Dylan, Withdrawals Delivery fees earned Depreciation expense - Truck Salaries expense Office supplies expense Interest expense Repairs expense - Trucks Totals Net Income Totals Unadjusted Trial Balance Debit Credit $16,000 34,000 5,000 350,000 $80,000 160,000 24,000 5,000 100,000 307,000 34,000 263,000 40,000 110,000 15,000 5,000 10,000 $779,000 $779,000 Adjustments Debit Credit 54 76 Prepare the year-end closing entries for this company and determine the capital amount to be reported on its yea Delivery Fees Earned...................................... Income Summary...................................... Income Summary............................................ Depreciation Expense-Trucks.................. Salaries Expense....................................... Office Supplies Expense........................... Interest Expense....................................... Repairs Expense - Trucks......................... Income Summary............................................ S. Dylan, Capital........................................ S. Dylan, Capital.............................................. S. Dylan, Withdrawals.............................. S. Dylan, Capital on the balance sheet Beginning Balance............................................. Add: Net income........................................... Less: Withdrawals......................................... Ending balance.................................................. Please go to next page in this workbook for the next problem! ery Company as of December 31,2017. n work sheet.( I find it easier to write the adjusting journal entries first.) (Don't forget the description for each entry.) VERY COMPANY rk Sheet December 31, 2017 Adjusted Trial Balance Debit Credit Income Statement Debit Credit o be reported on its year-end balance sheet. Balance Sheet & Statement of Owner's Equity Debit Credit The following adjusted trial balance contains the accounts and balances of Cruz Company as of December 31, 2 No. 101 126 128 167 168 301 302 404 612 622 637 640 652 Adjusted Trial Balance Account Title Debit Cash $19,000 Supplies 13,000 Prepaid Insurance 3,000 Equipment 24,000 Accumulated depreciation - Equipment T. Cruz, Capital T. Cruz, Withdrawals 7,000 Services revenue Depreciation expense- Equipment 3,000 Salaries expense 22,000 Insurance expense 2,500 Rent expense 3,400 Supplies expense 2,200 Totals $99,100 Credit $7,500 47,600 44,000 $99,100 Prepare the December 31, 2017 closing entries for Cruz Company. Assume the account number for Income Sum (Don't forget your brief description for each entry.) 2017 Dec. 31 Services Revenue...................................... Income Summary................................. Acct. No. 404 901 31 Income Summary...................................... Depreciation Expense - Equipment... Salaries Expense................................... Insurance Expense............................... Rent Expense....................................... Supplies Expense................................. 901 612 622 637 640 653 31 Income Summary..................................... T. Cruz, Capital..................................... 901 301 31 T. Cruz, Capital.......................................... T. Cruz, Withdrawals........................... 301 302 Prepare the December 31,2017 post-closing trial balance for Cruz Company. CRUZ COMPANY Post-closing Trial Balance December 31, 2017 Debit Cash............................................................. Supplies....................................................... Prepaid Insurance...................................... Equipment.................................................. Accumulated depreciation - Equipment. T. Cruz, Capital........................................... Totals.......................................................... Continue to page 3. Credit y as of December 31, 2017, the end of it's fiscal year. number for Income Summary is 901. Use the following adjusted trial balance of Wilson Trucking Company to prepare the following for the year end 1 - Income statement 2- Statement of owner's equity - The K. Wilson, Capital account balance at December 31, 2016 is $175,000. 3- Classified Balance Sheet WILSON TRUCKING COMPANY Adjusted Trial Balance December 31, 2017 Debit Cash $8,000 Accounts Receivable 17,500 Office supplies 3,000 Trucks 172,000 Accumulated depreciation - Trucks Land 85,000 Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals 20,000 Trucking fees earned Depreciation expense - Trucks 23,500 Salaries expense 61,000 Office supplies expense 8,000 Repairs expense - Trucks 12,000 Totals $410,000 WILSON TRUCKING COMPANY Income Statement For Year Ended December 31, 2017 Trucking fees earned................................ Expenses Depreciation expense - Trucks.......... Salaries expense.................................. Office supplies expense...................... Repairs Expense - Trucks.................... Total expenses..................................... Net Income................................................. WILSON TRUCKING COMPANY Statement of Owner's Equity For Year Ended December 31, 2017 K. Wilson, Capital, December 31, 2016 Credit $36,000 12,000 4,000 53,000 175,000 130,000 $410,000 Add: Net Income.................................. Less: Withdrawals................................ K. Wilson, Capital, December 31, 2017 WILSON TRUCKING COMPANY Classified Balance Sheet December 31, 2017 Assets Current assets Cash................................................................................. Accounts receivable.................................................... Office Supplies............................................................. Total current assets.................................................... Plant Assets Trucks............................................................................ Accumulated depreciation - Trucks.......................... Land Total plant assets........................................................ Total assets........................................................................ Liabilities Current liabilities Accounts payable........................................................ Interest payable.......................................................... Total current liabilities............................................... Long-term notes payable................................................. Total Liabilities.................................................................. Equity K. Wilson, Capital .............................................................. Total liabilities and equity................................................ Using the same adjusted trial balance, compute the current ratio as of the balance sheet date (round to two de Interpret the current ratio for the Wilson Trucking Company. (Assume the industry average for the current ratio Current ratio = Interpretation: Current assets Current liabilities = llowing for the year ended December 31, 2017: 31, 2016 is $175,000. et date (round to two decimals). rage for the current ratio is 1.5). =