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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 $ 25,050 13,500 5,600 2,500 42,700 $ 17,750 12,000 6,000 34,000 2,250 114,750 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-Store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Sales salaries expense office salaries expense Insurance expense Rent expense-selling space Rent expense-office space Store supplies expense Advertising expense Totals 2,050 2,250 38,000 0 13,150 13,150 0 7,500 7,500 0 9,300 $184,500 $184,500 Additional Information: a. Store supplies still available at fiscal year-end amount to $2,650. b. Expired insurance, an administrative expense, is $1,500 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,650 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10.500 of inventory is still < Prev 6 of 6 !!! Next