ACC 111 Project 10 Nicholas Company had the following Adjusted Trial Balance for the month ended May 31, 2016. Nicholas Company Adjusted Trial Balance May 31, 2016 Account Names Debit Credit Cash $349,461 Petty Cash Fund 4,800 Accounts Receivable 22,100 Merchandise Inventory, 5/1/16 54,900 Store Supplies 10,800 Office Supplies 3,700 Prepaid Insurance 3,117 Land 38,000 Forklift 32,900 Accumulated Depreciation, Forklift $800 Delivery Truck 156,000 Accumulated Depreciation, Delivery Truck 1,650 Accounts Payable 93,600 Salaries Payable 1,800 Unearned Sales Revenue 27,700 Notes Payable (Long-Term) 125,000 Nicholas Ram, Capital 395,100 Nicholas Ram, Drawings 4,500 Sales Revenue 261,500 Sales Discounts 645 Sales Returns and Allowances 4,700 Purchases 172,000 Purchases Discounts 3,796 Purchases Returns and Allowances 8,600 Freight-in 1,890 Salaries Expense 33,800 Utilities Expense 8,300 Repair Supplies Expense 800 Postage Expense 480 Rent Expense 14,500 Depreciation Expense, Delivery Truck 850 Depreciation Expense, Forklift 800 Office Supplies Expense 1,400 Insurance Expense 283 Cash Short & Over 20 Interest Expense 3,300 Interest Revenue 4,500 Totals $924,046 $924,046 Post the closing Entries to the General Ledger. (Post entries in the order of Journal entries presented in the previous part. En see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Debit Credit Balance Cash Date 2016 May 31 Balance 349,461 Debit Credit Balance Petty Cash Fund Date 2016 May 31 Balance 4,800 Debit Credit Balance Accounts Receivable Date 2016 May 31 Balance 22,100 Debit Credit Balance Merchandise Inventory Date 2016 May 31 Balance 54,900 31 Closing 31 Closing Debit Credit Balance Store Supplies Date 2016 May 31 Balance 10,800 Debit Credit Balance Office Supplies Date 2016 May 31 Balance 3,700 Debit Credit Balance Prepaid Insurance Date 2016 May 31 Balance 3,117 Debit Credit Balance Land Date 2016 May 31 Balance 38,000 Forklift Date 2016 Debit Credit Balance May 31 Balance 32,900 Debit Credit Balance Accumulated Depreciation, Forklift Date 2016 May 31 Balance 800 Debit Credit Balance Delivery Truck Date 2016 May 31 Balance 156,000 Debit Credit Balance Accumulated Depreciation, Delivery Truck Date 2016 May 31 Balance 1,650 Debit Credit Balance Accounts Payable Date 2016 May 31 Balance 93,600 Debit Credit Balance Salaries Payable Date 2016 May 31 Balance 1,800 Debit Credit Balance Unearned Sales Revenue Date 2016 May 31 Balance 27,700 Debit Credit Balance Notes Payable (Long-Term) Date 2016 May 31 Balance 125,000 Debit Credit Balance Nicholas Ram, Capital Date 2016 May 31 Balance 395,100 31 Closing 31 Closing Debit Credit Balance Nicholas Ram, Drawings Date 2016 May 31 Balance 4,500 31 Closing Debit Credit Balance Sales Revenue Date 2016 May 31 Balance 261,500 31 Closing I Debit Credit Balance Sales Discounts Date 2016 May 31 Balance 645 31 Closing Debit Credit Balance Sales Returns and Allowances Date 2016 May 31 Balance 4,700 31 Closing Debit Credit Balance Purchases Date 2016 May 31 Balance 172,000 31 Closing Debit Credit Balance Purchases Discounts Date 2016 May 31 Balance 3,796 31 Closing Debit Credit Balance Purchases Returns and Allowances Date 2016 May 31 Balance 8,600 31 Closing Debit Credit Balance Freight-In Date 2016 May 31 Balance 1,890 31 Closing Debit Credit Balance Salaries Expense Date 2016 May 31 Balance 33,800 31 Closing Debit Credit Balance Utilities Expense Date 2016 May 31 Balance 8,300 31 Closing Debit Credit Balance Repair Supplies Expense Date 2016 May 31 Balance 800 31 Closing Debit Credit Balance Postage Expense Date 2016 May 31 Balance 480 31 Closing Debit Credit Balance Rent Expense Date 2016 May 31 Balance 14,500 31 Closing Debit Credit Balance Depreciation Expense, Delivery Truck Date 2016 May 31 Balance 850 31 Closing Debit Credit Balance Depreciation Expense, Forklift Date 2016 May 31 Balance 800 31 Closing Debit Credit Balance Office Supplies Expense Date 2016 May 31 Balance 31 Closing 1,400 Debit Credit Balance Insurance Expense Date 2016 May 31 Balance 283 31 Closing Debit Credit Balance Cash Short & Over Date 2016 May 31 Balance 20 31 Closing Debit Credit Balance Interest Expense Date 2016 May 31 Balance 3,300 31 Closing Debit Credit Balance Interest Revenue Date 2016 May 31 Balance 4,500 31 Closing Income Summary Date 2016 Debit Credit Balance May 31 Closing 31 Closing 31 Closing ACC 111 Project 10 Nicholas Company had the following Adjusted Trial Balance for the month ended May 31, 2016. Nicholas Company Adjusted Trial Balance May 31, 2016 Account Names Debit Credit Cash $349,461 Petty Cash Fund 4,800 Accounts Receivable 22,100 Merchandise Inventory, 5/1/16 54,900 Store Supplies 10,800 Office Supplies 3,700 Prepaid Insurance 3,117 Land 38,000 Forklift 32,900 Accumulated Depreciation, Forklift $800 Delivery Truck 156,000 Accumulated Depreciation, Delivery Truck 1,650 Accounts Payable 93,600 Salaries Payable 1,800 Unearned Sales Revenue 27,700 Notes Payable (Long-Term) 125,000 Nicholas Ram, Capital 395,100 Nicholas Ram, Drawings 4,500 Sales Revenue 261,500 Sales Discounts 645 Sales Returns and Allowances 4,700 Purchases 172,000 Purchases Discounts 3,796 Purchases Returns and Allowances 8,600 Freight-in 1,890 Salaries Expense 33,800 Utilities Expense 8,300 Repair Supplies Expense 800 Postage Expense 480 Rent Expense 14,500 Depreciation Expense, Delivery Truck 850 Depreciation Expense, Forklift 800 Office Supplies Expense 1,400 Insurance Expense 283 Cash Short & Over 20 Interest Expense 3,300 Interest Revenue 4,500 Totals $924,046 $924,046 Post the closing Entries to the General Ledger. (Post entries in the order of Journal entries presented in the previous part. En see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Debit Credit Balance Cash Date 2016 May 31 Balance 349,461 Debit Credit Balance Petty Cash Fund Date 2016 May 31 Balance 4,800 Debit Credit Balance Accounts Receivable Date 2016 May 31 Balance 22,100 Debit Credit Balance Merchandise Inventory Date 2016 May 31 Balance 54,900 31 Closing 31 Closing Debit Credit Balance Store Supplies Date 2016 May 31 Balance 10,800 Debit Credit Balance Office Supplies Date 2016 May 31 Balance 3,700 Debit Credit Balance Prepaid Insurance Date 2016 May 31 Balance 3,117 Debit Credit Balance Land Date 2016 May 31 Balance 38,000 Forklift Date 2016 Debit Credit Balance May 31 Balance 32,900 Debit Credit Balance Accumulated Depreciation, Forklift Date 2016 May 31 Balance 800 Debit Credit Balance Delivery Truck Date 2016 May 31 Balance 156,000 Debit Credit Balance Accumulated Depreciation, Delivery Truck Date 2016 May 31 Balance 1,650 Debit Credit Balance Accounts Payable Date 2016 May 31 Balance 93,600 Debit Credit Balance Salaries Payable Date 2016 May 31 Balance 1,800 Debit Credit Balance Unearned Sales Revenue Date 2016 May 31 Balance 27,700 Debit Credit Balance Notes Payable (Long-Term) Date 2016 May 31 Balance 125,000 Debit Credit Balance Nicholas Ram, Capital Date 2016 May 31 Balance 395,100 31 Closing 31 Closing Debit Credit Balance Nicholas Ram, Drawings Date 2016 May 31 Balance 4,500 31 Closing Debit Credit Balance Sales Revenue Date 2016 May 31 Balance 261,500 31 Closing I Debit Credit Balance Sales Discounts Date 2016 May 31 Balance 645 31 Closing Debit Credit Balance Sales Returns and Allowances Date 2016 May 31 Balance 4,700 31 Closing Debit Credit Balance Purchases Date 2016 May 31 Balance 172,000 31 Closing Debit Credit Balance Purchases Discounts Date 2016 May 31 Balance 3,796 31 Closing Debit Credit Balance Purchases Returns and Allowances Date 2016 May 31 Balance 8,600 31 Closing Debit Credit Balance Freight-In Date 2016 May 31 Balance 1,890 31 Closing Debit Credit Balance Salaries Expense Date 2016 May 31 Balance 33,800 31 Closing Debit Credit Balance Utilities Expense Date 2016 May 31 Balance 8,300 31 Closing Debit Credit Balance Repair Supplies Expense Date 2016 May 31 Balance 800 31 Closing Debit Credit Balance Postage Expense Date 2016 May 31 Balance 480 31 Closing Debit Credit Balance Rent Expense Date 2016 May 31 Balance 14,500 31 Closing Debit Credit Balance Depreciation Expense, Delivery Truck Date 2016 May 31 Balance 850 31 Closing Debit Credit Balance Depreciation Expense, Forklift Date 2016 May 31 Balance 800 31 Closing Debit Credit Balance Office Supplies Expense Date 2016 May 31 Balance 31 Closing 1,400 Debit Credit Balance Insurance Expense Date 2016 May 31 Balance 283 31 Closing Debit Credit Balance Cash Short & Over Date 2016 May 31 Balance 20 31 Closing Debit Credit Balance Interest Expense Date 2016 May 31 Balance 3,300 31 Closing Debit Credit Balance Interest Revenue Date 2016 May 31 Balance 4,500 31 Closing Income Summary Date 2016 Debit Credit Balance May 31 Closing 31 Closing 31 Closing