Refer to the data and information in Problem 5-5A.
In Problem 5-5A
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company.

Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system.
a. Store supplies still available at fiscal year-end amount to $1,750.
b. Expired insurance, an administrative expense, for the fiscal year is $1,400.
c. Depreciation expense on store equipment, a selling expense, is $1,525 for the fiscal year.
d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,900 of inventory is still available at fiscal year-end.
Required
Prepare and complete the entire 10-column work sheet for Nelson Company. Follow the structure of Exhibit 5B.1 in Appendix 5B.

Transcribed Image Text:

NELSON COMPANY Unadjusted Trial Balance January 31 2017 Debit Credit 2 Cash 3 Merchandise i 4 Store supplies 5 Prepaid insurance 6 Store equ 7 Accumulatedd 8 Accounts payable 9 J. Nelson, Capital 10 . Nelson, Withdrawals 11 Sales 12 Sales discounts 13 Sales returns and allowances 14 Cost of goods sold 15 Depreciation expense-Store equipment 16 Salaries expense 17 Insurance expense 18 Rent expense 19 Store supplies expense 20 Advertising expense 21 Totals S 1,000 12,500 5,800 2,400 42,900 $15,250 10,000 32,000 iation-Store e 2,200 111,950 2,000 2,200 38,400 0 35,000 0 15,000 0 9,800 $169,200 $169,200