Same excel below
Date | Account title | Debit | Credit |
31-Jan | Store supplies | 1,750.00 | |
Store supplies expense | 1,750.00 | ||
(Being store supplies in hand reversed back from expenses) | |||
31-Jan | Insurance expense | 1,400.00 | |
Prepaid insurance | 1,400.00 | ||
(Being expired insurance expensed out of prepaid insurance) | |||
31-Jan | Depreciation | 1,525.00 | |
Accummulated depreciation | 1,525.00 | ||
(Being depreciation expense on store equipment) | |||
31-Jan | Closing stock | 10,900.00 | |
Cost of goods sold | 10,900.00 | ||
(Being closing inventory accounted) |
Saved Help Save & Exit Submit Check my work The fiscal year-end unadjusted trial balance for...
The fiscal year-end unadjusted trial balance for Nelson Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2018, follow. Store supplies still available at fiscal year-end amount to $1,750. Expired insurance, an administrative expense, for the fiscal year is $1,400. Depreciation expense on store equipment, a selling expense,...
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense—Store Equipment, Sales Salaries Expense, Rent Expense—Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Debit Credit Cash $ 22,050 Merchandise inventory 15,000 Store supplies 5,300 Prepaid insurance 2,700 Store equipment 42,600 Accumulated depreciation—Store equipment $...
4-5 The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2017 Debit Credit Cash $ 32,550 Merchandise inventory 14,000 Store supplies 5,600 Prepaid insurance 2,300 Store equipment 42,900 Accumulated depreciation—Store equipment $ 18,000 Accounts payable 17,000 Common stock 3,200 Retained earnings 16,000 Dividends 2,050 Sales 141,750 Sales discounts 1,850 Sales returns and allowances 2,200 Cost of goods sold 38,000 Depreciation expense—Store equipment 0 Salaries expense 29,000 Insurance expense 0...
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense–Store Equipment, Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Credit Debit $ 22,300 13,500 5,900 2,500 42,900 $ 16,100 17,000 4,000 28,000 2,050 115,900 Cash Merchandise inventory Store supplies Prepaid...
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense—Store Equipment, Sales Salaries Expense, Rent Expense—Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Debit Credit Cash $ 23,950 Merchandise inventory 12,500 Store supplies 5,500 Prepaid insurance 2,500 Store equipment 42,800 Accumulated depreciation—Store equipment $...
GL04-03 - Based on Problem 4-5A Nelson Company LO C2, P3 The fiscal year end unadjusted trial balance for Nelson Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2017, follow. a. Store supplies still available at fiscal year-end amount to $1.750. b. Expired insurance, an administrative expense,...
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense—Store Equipment, Sales Salaries Expense, Rent Expense—Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Debit Credit Cash $ 22,150 Merchandise inventory 13,000 Store supplies 5,100 Prepaid insurance 2,800 Store equipment 42,800 Accumulated depreciation—Store equipment $...
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense—Store Equipment, Sales Salaries Expense, Rent Expense—Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Debit Credit Cash $ 20,650 Merchandise inventory 14,000 Store supplies 5,300 Prepaid insurance 2,500 Store equipment 42,900 Accumulated depreciation—Store equipment $...
Saved Help Save & Exit Check Required information [The following information applies to the questions displayed below.] The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense-Store Equipment, Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Credit Debit $ 17,...
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2017 Debit Credit Cash $ 46,550 Merchandise inventory 13,000 Store supplies 5,500 Prepaid insurance 2,800 Store equipment 42,600 Accumulated depreciation—Store equipment $ 19,800 Accounts payable 16,000 J. Nelson, Capital 18,000 J. Nelson, Withdrawals 2,250 Sales 153,600 Sales discounts 2,000 Sales returns and allowances 2,200 Cost of goods sold 38,000 Depreciation expense—Store equipment 0 Salaries expense 27,100 Insurance expense 0 Rent...