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A Davis Lamp company,owned by J Davis, is a wholesale company that purchases lamps from the manufacturer and resells them to retail stores. (...)

• The company has three inventory items: desk lamps, table lamps, and floor lamps.
• DLC uses a perpetual inventory system?FIFO method.
• DCL owns land with a building, which is separated into two parts: office space and warehouse space.
• All expenses associated with the office are categorized as Administrative Expenses.
• All expenses associated with the warehouse, which is used for the shipping and receiving functions of the company, are categorized as Selling Expenses.
• In addition to the land and building, DLC also owns office furniture and equipment and warehouse fixtures. The company usesone accumulated depreciationaccount for all the depreciable assets.

The trial balance for DLC as of September 30, 2025 follows: Common Stock ($100,000.)+ Retaining ($298925) = Davis's Capital ($398,925) (...)

Now. 30 30 Dec. 5 15 15 27 3 31 Paid salaries, $40,000 (75% selling, 25% administrative). Paid utilities, $2,670 (60% selling, 40% administrative). Paid amount due to Blue Ridge Lights from Nowv. 5 purchase. Received a check from Anderson Office Supply for full amount owed on Mowv. 15 sale. Davis withdrew 550,000 from the business. Sold lamps on account to Atlas Home Furnishings, terms 2/10, n/30: 4,500 desk lamps at $20 each 5,000 table lamps at 545 each Paid salaries, $40,000 (75% selling, 25% administrative). Paid utilities, $3,200 (60% selling, 40% administrative). Now. 30 30 Dec. 5 15 15 27 3 31 Paid salaries, $40,000 (75% selling, 25% administrative). Paid utilities, $2,670 (60% selling, 40% administrative). Paid amount due to Blue Ridge Lights from Nowv. 5 purchase. Received a check from Anderson Office Supply for full amount owed on Mowv. 15 sale. Davis withdrew 550,000 from the business. Sold lamps on account to Atlas Home Furnishings, terms 2/10, n/30: 4,500 desk lamps at $20 each 5,000 table lamps at 545 each Paid salaries, $40,000 (75% selling, 25% administrative). Paid utilities, $3,200 (60% selling, 40% administrative). DAVIS LAMP COMPANY Trial Balance September 30, 2025 Account Cash Accounts Receivable Merchandise Inventory Office Supplies Warehouse Supplies Land Building Office Furniture and Equipment Warehaouse Fixtures Accumulated Depreciation Accounts Payable Davis, Capital Davis, Writhdrawvals Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salaries ExpenseSelling Utilities ExpenseSelling Supplies Expense>Selling Depreciation ExpenseSelling Salaries ExpenseAdministrative Utilities ExpenseAdministrative Supplies ExpenseAdministrative Depreciation ExpenseAdministrative Total Balance Debit $ 457,000 126,000 275 350 20,000 780,000 125,000 260,000 119,400 39,500 902,250 270,000 32,000 0 0 90,000 25,000 0 0 % 3,247,075 Credit $ 194,000 0 398,925 2,654,150 3,247,075 DAVIS LAMP COMPANY Trial Balance September 30, 2025 Account Cash Accounts Receivable Merchandise Inventory Office Supplies Warehouse Supplies Land Building Office Furniture and Equipment Warehaouse Fixtures Accumulated Depreciation Accounts Payable Davis, Capital Davis, Writhdrawvals Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salaries ExpenseSelling Utilities ExpenseSelling Supplies Expense>Selling Depreciation ExpenseSelling Salaries ExpenseAdministrative Utilities ExpenseAdministrative Supplies ExpenseAdministrative Depreciation ExpenseAdministrative Total Balance Debit $ 457,000 126,000 275 350 20,000 780,000 125,000 260,000 119,400 39,500 902,250 270,000 32,000 0 0 90,000 25,000 0 0 % 3,247,075 Credit $ 194,000 0 398,925 2,654,150 3,247,075 Oct. 1 12 15 20 23 28 30 3 3 Now. 1 10 15 18 28 Purchased lamps on account from Blue Ridge Lights, terms n/30, FOB destination: 5,000 desk lamps at $9 each 7,500 table lamps at $19 each 2,500 floor lamps at $25 each Sold lamps on account to Atlas Home Furnishings, terms 2/10, n/30: 4,000 table lamps at 545 each Sold lamps on account to Hiawassee Office Supply, terms 210, n/30: 1,000 desk lamps at $20 each Received a check from Atlas Home Furnishings for full amount owed on Oct. 12 sale. Received a check from Hiawassee Office Supply for full amount owed on Oct. 15 sale. Sold lamps on account to Parkway Home Stores, terms 2/10, n/30: 3,500 table lamps at $45 each 1,500 floor lamps at $65 each Paid amount due to Blue Ridge Lights from Oct. 1 purchase. Paid salaries, $40,000 (75% selling, 25% administrative). Paid utilities, $2,500 (60% selling, 40% administrative). Sold lamps on account to Hiawassee Office Supply, terms 210, n/30: 3,000 desk lamps at $20 each Purchased lamps on account from Blue Ridge Lights, terms n/30, FOB destination: 5,000 desk lamps at $10 each 10,000 table lamps at $21 each 5,000 floor lamps at $27 each Received a check from Parkway Home Stores for full amount owed on Oct. 28 sale. Received a check from Hiawassee Office Supply for full amount owed on MNow. 1 sale. Purchased and paid for supplies: $325 for the office; $675 for the warehouse. Sold lamps on account to Anderson Office Supply, nf30: 2,000 desk lamps at $20 each Sold lamps on account to Go-Mart Discount Stores, terms 110, n/30: 2,000 table lamps at $45 each 2,000 floor lamps at $65 each Received a check from Go-Mart Discount 5tores for full amount owed on Mow. 18 sale. Oct. 1 12 15 20 23 28 30 3 3 Now. 1 10 15 18 28 Purchased lamps on account from Blue Ridge Lights, terms n/30, FOB destination: 5,000 desk lamps at $9 each 7,500 table lamps at $19 each 2,500 floor lamps at $25 each Sold lamps on account to Atlas Home Furnishings, terms 2/10, n/30: 4,000 table lamps at 545 each Sold lamps on account to Hiawassee Office Supply, terms 210, n/30: 1,000 desk lamps at $20 each Received a check from Atlas Home Furnishings for full amount owed on Oct. 12 sale. Received a check from Hiawassee Office Supply for full amount owed on Oct. 15 sale. Sold lamps on account to Parkway Home Stores, terms 2/10, n/30: 3,500 table lamps at $45 each 1,500 floor lamps at $65 each Paid amount due to Blue Ridge Lights from Oct. 1 purchase. Paid salaries, $40,000 (75% selling, 25% administrative). Paid utilities, $2,500 (60% selling, 40% administrative). Sold lamps on account to Hiawassee Office Supply, terms 210, n/30: 3,000 desk lamps at $20 each Purchased lamps on account from Blue Ridge Lights, terms n/30, FOB destination: 5,000 desk lamps at $10 each 10,000 table lamps at $21 each 5,000 floor lamps at $27 each Received a check from Parkway Home Stores for full amount owed on Oct. 28 sale. Received a check from Hiawassee Office Supply for full amount owed on MNow. 1 sale. Purchased and paid for supplies: $325 for the office; $675 for the warehouse. Sold lamps on account to Anderson Office Supply, nf30: 2,000 desk lamps at $20 each Sold lamps on account to Go-Mart Discount Stores, terms 110, n/30: 2,000 table lamps at $45 each 2,000 floor lamps at $65 each Received a check from Go-Mart Discount 5tores for full amount owed on Mow. 18 sale. Item Desk Lamp Table Lamp Floor Lamp Total Quantity 2,500 3,000 2,000 Unit Cost $8 18 26 Total Cost $ 20,000 54,000 52,000 $ 126,000 Item Desk Lamp Table Lamp Floor Lamp Total Quantity 2,500 3,000 2,000 Unit Cost $8 18 26 Total Cost $ 20,000 54,000 52,000 $ 126,000