GL0403 (Algo) - Based on Problem 4-5A LO A1, P3, P4 The fiscal year-end unadjusted trial balance for Lewis Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Lewis Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $2,800. b. Expired insurance, an administrative expense, for the fiscal year ist $1,820. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,280 of inventory is still available at fiscal year-end. General Journal tab - Prepare any necessary adjusting entries. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. Journal entry worksheet 5678 Store supplies still avallable at fiscal year-end amount to 32,800 . Note: Enter debits before credits. Journal entry worksheet Expired insurance, an administrative expense, for the fiscal year is $1,820. Note: Enter debits before credits. Journal entry worksheet Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. Note: Enter debits before credits. Journal entry worksheet To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,280 of inventory is still available at fiscal year-end. Note: Enter debits before credits. Journal entry worksheet Record the entry to close income statement accounts with credit balances. Note: Enter debits before credits. Journal entry worksheet Record the entry to close income statement accounts with debit balances. Note: Enter debits before credits. Journal entry worksheet