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, 2015.
Use the following information about the company's adjustments to complete a 10-column work sheet.
Unrecorded depreciation on the trucks at the end of the year is $40,000.
The total amount of accrued interest expense at year-end is $6,000.
The cost of unused office supplies still available at year-end is $2,000.
Prepare the year-end closing entries for this company, and determine the capital amount to be reported on its year-end balance sheet.