5 Problem 4-3A Computing merchandising amounts and formatting income statements LO C2, P4 Valley Company's adjusted trial balance on August 31, its fiscal year-end, follows. It categorizes the following accounts as selling expenses: sales salaries expense, rent expense-selling space, store supplies expense, and advertising expense. It categorizes the remaining expenses as general and administrative. Credit Debit $ 35,690 149,999 $ 40,425 47,114 69,497 8,800 239,409 Merchandise inventory (ending) Other (noninventory) assets Total liabilities Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense-selling space Store supplies expense Advertising expense Office salaries expense Rent expense-Office Space Office supplies expense Totals 3,663 5,800 92,945 32,798 11,252 2,873 20,349 29,925 2,873 958 5396,436 $396,436 Beginning merchandise inventory was $28.245. Supplementary records of merchandising activities for the year ended August 31 reveal the following itemized costs her O li 82 5 6 w E R ork - Chapter 4 Exercise 4-8 Inventory and cost of sales transactions in T-accounts LO P1, P2 The following summarizen Tesla's merchandising activities for the year 5241, Cost of were sold to customers Merchandise inventory, beint year Cost of the purchases, ressant Son chase as of Cost of transportation in for merchandise purchases Cost of the returned by and stored to inventory Discounts received from supollerschandise purchases to and from fuppliers and chases 250,10 40 2,5 3,400 3, Enter the sumed activities in the two T-accounts below Complete this question by entering your answers in the tabs below. Here Cast of Im so the summed active in the account below 40 BI E R S D F G A B N M 5 Problem 4-3A Computing merchandising amounts and formatting income statements LO C2, P4 Valley Company's adjusted trial balance on August 31, its fiscal year-end, follows. It categorizes the following accounts as selling expenses: sales salaries expense, rent expense-selling space, store supplies expense, and advertising expense. It categorizes the remaining expenses as general and administrative. Credit Debit $ 35,690 149,999 $ 40,425 47,114 69,497 8,800 239,409 Merchandise inventory (ending) Other (noninventory) assets Total liabilities Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense-selling space Store supplies expense Advertising expense Office salaries expense Rent expense-Office Space Office supplies expense Totals 3,663 5,800 92,945 32,798 11,252 2,873 20,349 29,925 2,873 958 5396,436 $396,436 Beginning merchandise inventory was $28.245. Supplementary records of merchandising activities for the year ended August 31 reveal the following itemized costs her O li 82 5 6 w E R ork - Chapter 4 Exercise 4-8 Inventory and cost of sales transactions in T-accounts LO P1, P2 The following summarizen Tesla's merchandising activities for the year 5241, Cost of were sold to customers Merchandise inventory, beint year Cost of the purchases, ressant Son chase as of Cost of transportation in for merchandise purchases Cost of the returned by and stored to inventory Discounts received from supollerschandise purchases to and from fuppliers and chases 250,10 40 2,5 3,400 3, Enter the sumed activities in the two T-accounts below Complete this question by entering your answers in the tabs below. Here Cast of Im so the summed active in the account below 40 BI E R S D F G A B N M