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3 years ago

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

Business

1 answer:

Ganezh [65]3 years ago

6 0

Answer:

<u>Question 1</u>

Part a

Debit : Depreciation $8.231

Credit : Accumulated Depreciation $8.231

Part b

Debit : Interest Expense $8,000

Credit : Long term notes payable $8,000

Part c

Debit : Office Supplies Expenses $ 500

Credit: Office Supplies $ 500

<u>Question 2</u>

Capital amount to be reported on the December 31, 2017 balance sheet is $170,551

Explanation:

<em>See below the full question that i have attached </em>

Calculation of Capital amount as at December 31, 2017

Balance before adjustments $187,282

Adjustments :

Depreciation ($8.231)

Interest Expense ($8,000)

Office Supplies Expenses ($ 500)

Balance after adjustments $170,551

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