I go to Grand Canyon University. I am having trouble with p5-46. If you could help me that would be great. I will attach a document as well. Here is my question. Again the problem I am having trouble with is p5-46, its after p5-33.

Journalizing purchase and sale transactions making closing entries preparing financial statements and computing the gross profit percentage.

Shine king cleaning has decided that in addition to providing cleaning services it will sell cleaning products. Shine king uses the perpectual inventory system. During December 2015 shine king completed the following Transactions.

Date Sep. 3 Sep. 4 Sep. 4 Sep. 6 Sep. 8 Sep. 8 Sep. 9 Sep. 10 Sep. 12 Sep. 13 Sep. 15 Sep. 15 Sep. 22 Sep. 23 Sep. 23 Sep. 25 Sep. 25 Sep. 25 Sep. 26 Sep. 29 Sep. 30 Accounts and Explanation Merchandizing Inventory Accounts Payable- Shallin Wholesale Debit Credit 5,000 5,000 Merchandise Inventory Cash 80 Merchandise Inventory Cash 1,700 Accounts Payable- Shallin Wholesale Merchandise Inventory 80 1,700 500 500 Accounts Receivable- Hermosa Company Sales Revenue 6,000 Cost of Good Sold Merchandise Inventory 2,640 Merchandise Inventory Accounts Payable- Thomas Wholesale 8,000 Accounts Payable- Shallin Wholesale Cash Merchandise Inventory 4,580 Cash Sales Discount Accounts recievable- Hermosa Company 5,880 120 Accounts Payable- Thomas Wholesale Merchandise Inventory 6,000 2,640 8,000 4,535 45 6,000 200 200 Accounts Recievable- Jordan Company Sales Revenue 2,500 Costs Of Good Sold Merchandise Inventory 2,500 Accounts Payable- Thomas Wholesale Cash 7,800 2,500 2,500 7,800 Sales Return and Allowance Accounts Receivable- Jordan Company 400 Merchandise Inventory Costs of Goods Sold 160 400 160 Accounts Receivable- Smithsons Sales Revenue 1,100 Costs of Good Sold Merchandise Inventory 400 Accounts Receivable- Smithsons Cash 75 Sales Return and Allowance Accounts Receivable 1,100 400 75 100 100 Cash Sales Discounts Accounts Receivable- Smithsons 1,055 20 Cash 2,100 Accounts Receivable- Jordan Company 1,075 2,100 Available accounts for journal entries: Merchandise Inventory Accounts PayableShallin Wholesalers Merchandise Inventory Cash Merchandise Inventory Cash Accounts PayableShallin Wholesalers Merchandise Inventory Accounts ReceivableHermosa Company Sales Revenue Cost of Goods Sold Merchandise Inventory Merchandise Inventory Accounts PayableThomas Wholesalers Accounts PayableShallin Wholesalers Cash Merchandise Inventory Cash Sales Discounts Accounts ReceivableHermosa Company Accounts PayableThomas Wholesalers Merchandise Inventory Accounts ReceivableJordan Company Sales Revenue Cost of Goods Sold Merchandise Inventory Accounts PayableThomas Wholesalers Cash Sales Returns and Allowance Accounts ReceivableJordan Company Merchandise Inventory Cost of Goods Sold Accounts ReceivableSmithsons Sales Revenue Cost of Goods Sold Merchandise Inventory Accounts ReceivableSmithsons Cash Sales Returns and Allowance Accounts ReceivableSmithsons Cash Sales Discounts Accounts ReceivableSmithsons Cash Accounts ReceivableJordan Company Perpetual Inventory Record: FIFO Date Quantity Aug. 1 3 8 21 30 Totals Purchases Unit Cost Total Cost Quantity Cost of Goods Sold Unit Total Cost Cost Quantity Inventory on Hand Unit Total Cost Cost Perpetual Inventory Record: LIFO Date Quantity Aug. 1 3 8 21 30 Totals Purchases Unit Total Cost Cost Quantity Cost of Goods Sold Unit Total Cost Cost Quantity Inventory on Hand Unit Total Cost Cost Perpetual Inventory Record: Weighted-Average Date Quantity Purchases Unit Cost Total Cost Cost of Goods Sold Unit Quantity Total Cost Cost Aug. 1 3 8 21 30 Totals Calculations: Weighted a (a) = Cost of goods available for sale / Number of units available After the Aug. 8 purchase: = = = (b) After the Aug. 30 purchase: = = = Quantity Inventory on Hand Unit Total Cost Cost Determine the company's cost of goods sold for August using FIFO, LIFO and weighted-average inventory costing methods. Hint: look at the schedules that you just prepared for each method in the cost of goods sold section- the total cost. This is COGS. Compute gross profit for August using FIFO, LIFO, and weighted-average inventory costing methods. Calculations: Sales revenue = Number of units sold Sales price per unit Aug. 3 sale: = = Aug. 21 sale: = = Total sales revenue = Sales revenue from Aug. 3 sale + Sales revenue from Aug. 21 sale The sales revenue is the same for FIFO, LIFO and weighted - average = = FIFO Total Sales Revenue Cost of Goods Sold Gross Profit LIFO WeightedAverage hint: the total sales revenue will be the same for each section. If the business wanted to maximize gross profit, which method would it select? Perpetual Inventory Record: LIFO Purchases Unit Quantity Cost Date Total Cost Cost of Goods Sold Unit Quantity Total Cost Cost Quantity Jan. 7 18 22 28 31 Totals Calculations: Unit cost of inventory purchased = (a) Total cost / Total number of units Jan. 7 purchase: = = = (b) Jan. 22 purchase: = = (c) Units adjustment for inventory shrinkage: per physical count per inventory record adjustment needed Inventory on Hand Unit Total Cost Cost Date Jan. 2 Accounts and Explanation Debit Credit Available accounts for journal entries: Jan. 2 Jan. 7 Jan. 18 Jan. 19 Jan. 20 Jan. 21 Jan. 22 Jan. 24 Jan. 28 For cost of inventory purchased remember to add freight in Cash Service Revenue Prepaid Rent Cash Software Inventory Accounts Payable Accounts Receivable Sales Revenue Cost of Goods Sold Software Inventory Accounts Receivable Service Revenue Salaries Payable Salaries Expense Cash Accounts Payable Cash Software Inventory Accounts Payable Utilities Expense Cash Cash Sales Revenue Cost of Goods Sold Software Inventory Bal. Jan. 2 Jan. 28 Cash 16,400 Jan. 2 Jan. 20 Jan. 21 Jan. 24 Jan. 21 Accounts Payable 4,700 Service Revenue Bal. Jan. 7 Jan. 22 Bal. Jan. 2 Jan. 19 Bal. Bal. Accounts Receivable Bal. 1,750 Jan. 18 Jan. 19 Bal. Jan. 20 Salaries Payable 685 0 Software Inventory Bal. 0 Jan. 18 Jan. 7 Jan. 22 Jan. 28 Bal. Davis, Capital 18,165 18,165 Prepaid Rent 0 Bal. Bal. Jan. 18 Jan. 28 Bal. Unearned Revenue Office Supplies 200 200 Sales Revenue Davis, Withdrawals Bal. Bal. Bal. Jan. 2 Cost of Goods Sold 700 Jan. 18 700 Bal. Bal. Bal. Jan. 28 Bal. Salaries Expense Bal. Bal. Jan. 20 Bal. Utilities Expense 0 Jan. 24 Bal. Bal. . Equipment 1,800 1,800 Rent Expense Accumulated DepreciationEquipment 30 Bal. 30 Bal. Depreciation ExpenseEquipment Furniture 4,200 4,200 Depreciation ExpenseFurniture Bal. Bal. Bal. Bal. Accumulated DepreciationFurniture 70 Bal. 70 Bal. Date Jan. 31 Jan. 31 Jan. 31 Jan. 31 Accounts and Explanation Debit Credit Available accounts for journal entries: Salaries Expense Salaries Payable Depreciation ExpenseEquipment Depreciation ExpenseFurniture Accumulated DepreciationEquipment Accumulated DepreciationFurniture Rent Expense Prepaid Rent Cost of Goods Sold Software Inventory Bal. Jan. 2 Jan. 28 Cash 16,400 Jan. 2 Jan. 20 Jan. 21 Jan. 24 Accounts Payable Jan. 21 4,700 Bal. Jan. 7 Jan. 22 Bal. Service Revenue Salaries Payable 685 Sales Revenue Jan. 2 Jan. 19 Bal. Bal. Accounts Receivable Bal. 1,750 Jan. 18 Jan. 19 Bal. Jan. 20 Software Inventory Jan. 7 Jan. 22 Jan. 18 Jan. 28 Adj. Bal. Adj. Bal. Unearned Revenue 700 Bal. 700 Bal. Bal. Bal. Bal. Office Supplies 200 200 Davis, Capital 18,165 18,165 Prepaid Rent Jan. 2 Bal. Bal. Bal. Adj. Equipment 1,800 1,800 Accumulated DepreciationEquipment 30 Bal. Adj. Bal. Bal. Bal. Furniture 4,200 4,200 Accumulated DepreciationFurniture 70 Bal. Adj. Bal. Davis, Withdrawals Bal. 0 Jan. 18 Jan. 28 Bal. Cost of Goods Sold Jan. 18 Jan. 28 Adj. Bal. Salaries Expense Bal. Bal. Jan. 20 Adj. Bal. Utilities Expense Jan. 24 Bal. Rent Expense Adj. Bal. Depreciation ExpenseEquipment Adj. Bal. Depreciation ExpenseFurniture Adj. Bal. DAVIS CONSULTING Adjusted Trial Balance January 31, 2015 Account Title Balance Debit Cash Accounts Receivable Software Inventory Office Supplies Prepaid Rent Equipment Accumulated DepreciationEquipment Furniture Accumulated DepreciationFurniture Accounts Payable Salaries Payable Unearned Revenue Davis, Capital Service Revenue Sales Revenue Cost of Goods Sold Salaries Expense Utilities Expense Rent Expense Depreciation ExpenseEquipment Depreciation ExpenseFurniture Total Credit Date Sep. 3 Sep. 4 Sep. 4 Sep. 6 Sep. 8 Sep. 8 Sep. 9 Sep. 10 Sep. 12 Sep. 13 Sep. 15 Sep. 15 Sep. 22 Sep. 23 Sep. 23 Sep. 25 Sep. 25 Sep. 25 Sep. 26 Sep. 29 Sep. 30 Accounts and Explanation Merchandizing Inventory Accounts Payable- Shallin Wholesale Debit Credit 5,000 5,000 Merchandise Inventory Cash 80 Merchandise Inventory Cash 1,700 Accounts Payable- Shallin Wholesale Merchandise Inventory 80 1,700 500 500 Accounts Receivable- Hermosa Company Sales Revenue 6,000 Cost of Good Sold Merchandise Inventory 2,640 Merchandise Inventory Accounts Payable- Thomas Wholesale 8,000 Accounts Payable- Shallin Wholesale Cash Merchandise Inventory 4,580 Cash Sales Discount Accounts recievable- Hermosa Company 5,880 120 Accounts Payable- Thomas Wholesale Merchandise Inventory 6,000 2,640 8,000 4,535 45 6,000 200 200 Accounts Recievable- Jordan Company Sales Revenue 2,500 Costs Of Good Sold Merchandise Inventory 2,500 Accounts Payable- Thomas Wholesale Cash 7,800 2,500 2,500 7,800 Sales Return and Allowance Accounts Receivable- Jordan Company 400 Merchandise Inventory Costs of Goods Sold 160 400 160 Accounts Receivable- Smithsons Sales Revenue 1,100 Costs of Good Sold Merchandise Inventory 400 Accounts Receivable- Smithsons Cash 75 Sales Return and Allowance Accounts Receivable 1,100 400 75 100 100 Cash Sales Discounts Accounts Receivable- Smithsons 1,055 20 Cash 2,100 Accounts Receivable- Jordan Company 1,075 2,100 Available accounts for journal entries: Merchandise Inventory Accounts PayableShallin Wholesalers Merchandise Inventory Cash Merchandise Inventory Cash Accounts PayableShallin Wholesalers Merchandise Inventory Accounts ReceivableHermosa Company Sales Revenue Cost of Goods Sold Merchandise Inventory Merchandise Inventory Accounts PayableThomas Wholesalers Accounts PayableShallin Wholesalers Cash Merchandise Inventory Cash Sales Discounts Accounts ReceivableHermosa Company Accounts PayableThomas Wholesalers Merchandise Inventory Accounts ReceivableJordan Company Sales Revenue Cost of Goods Sold Merchandise Inventory Accounts PayableThomas Wholesalers Cash Sales Returns and Allowance Accounts ReceivableJordan Company Merchandise Inventory Cost of Goods Sold Accounts ReceivableSmithsons Sales Revenue Cost of Goods Sold Merchandise Inventory Accounts ReceivableSmithsons Cash Sales Returns and Allowance Accounts ReceivableSmithsons Cash Sales Discounts Accounts ReceivableSmithsons Cash Accounts ReceivableJordan Company Perpetual Inventory Record: FIFO Date Quantity Aug. 1 3 8 21 30 Totals Purchases Unit Cost Total Cost Quantity Cost of Goods Sold Unit Total Cost Cost Quantity Inventory on Hand Unit Total Cost Cost Perpetual Inventory Record: LIFO Date Quantity Aug. 1 3 8 21 30 Totals Purchases Unit Total Cost Cost Quantity Cost of Goods Sold Unit Total Cost Cost Quantity Inventory on Hand Unit Total Cost Cost Perpetual Inventory Record: Weighted-Average Date Quantity Purchases Unit Cost Total Cost Cost of Goods Sold Unit Quantity Total Cost Cost Aug. 1 3 8 21 30 Totals Calculations: Weighted a (a) = Cost of goods available for sale / Number of units available After the Aug. 8 purchase: = = = (b) After the Aug. 30 purchase: = = = Quantity Inventory on Hand Unit Total Cost Cost Determine the company's cost of goods sold for August using FIFO, LIFO and weighted-average inventory costing methods. Hint: look at the schedules that you just prepared for each method in the cost of goods sold section- the total cost. This is COGS. Compute gross profit for August using FIFO, LIFO, and weighted-average inventory costing methods. Calculations: Sales revenue = Number of units sold Sales price per unit Aug. 3 sale: = = Aug. 21 sale: = = Total sales revenue = Sales revenue from Aug. 3 sale + Sales revenue from Aug. 21 sale The sales revenue is the same for FIFO, LIFO and weighted - average = = FIFO Total Sales Revenue Cost of Goods Sold Gross Profit LIFO WeightedAverage hint: the total sales revenue will be the same for each section. If the business wanted to maximize gross profit, which method would it select? Perpetual Inventory Record: LIFO Purchases Unit Quantity Cost Date Total Cost Cost of Goods Sold Unit Quantity Total Cost Cost Quantity Jan. 7 18 22 28 31 Totals Calculations: Unit cost of inventory purchased = (a) Total cost / Total number of units Jan. 7 purchase: = = = (b) Jan. 22 purchase: = = (c) Units adjustment for inventory shrinkage: per physical count per inventory record adjustment needed Inventory on Hand Unit Total Cost Cost Date Jan. 2 Accounts and Explanation Debit Credit Available accounts for journal entries: Jan. 2 Jan. 7 Jan. 18 Jan. 19 Jan. 20 Jan. 21 Jan. 22 Jan. 24 Jan. 28 For cost of inventory purchased remember to add freight in Cash Service Revenue Prepaid Rent Cash Software Inventory Accounts Payable Accounts Receivable Sales Revenue Cost of Goods Sold Software Inventory Accounts Receivable Service Revenue Salaries Payable Salaries Expense Cash Accounts Payable Cash Software Inventory Accounts Payable Utilities Expense Cash Cash Sales Revenue Cost of Goods Sold Software Inventory Bal. Jan. 2 Jan. 28 Cash 16,400 Jan. 2 Jan. 20 Jan. 21 Jan. 24 Jan. 21 Accounts Payable 4,700 Service Revenue Bal. Jan. 7 Jan. 22 Bal. Jan. 2 Jan. 19 Bal. Bal. Accounts Receivable Bal. 1,750 Jan. 18 Jan. 19 Bal. Jan. 20 Salaries Payable 685 0 Software Inventory Bal. 0 Jan. 18 Jan. 7 Jan. 22 Jan. 28 Bal. Davis, Capital 18,165 18,165 Prepaid Rent 0 Bal. Bal. Jan. 18 Jan. 28 Bal. Unearned Revenue Office Supplies 200 200 Sales Revenue Davis, Withdrawals Bal. Bal. Bal. Jan. 2 Cost of Goods Sold 700 Jan. 18 700 Bal. Bal. Bal. Jan. 28 Bal. Salaries Expense Bal. Bal. Jan. 20 Bal. Utilities Expense 0 Jan. 24 Bal. Bal. . Equipment 1,800 1,800 Rent Expense Accumulated DepreciationEquipment 30 Bal. 30 Bal. Depreciation ExpenseEquipment Furniture 4,200 4,200 Depreciation ExpenseFurniture Bal. Bal. Bal. Bal. Accumulated DepreciationFurniture 70 Bal. 70 Bal. Date Jan. 31 Jan. 31 Jan. 31 Jan. 31 Accounts and Explanation Debit Credit Available accounts for journal entries: Salaries Expense Salaries Payable Depreciation ExpenseEquipment Depreciation ExpenseFurniture Accumulated DepreciationEquipment Accumulated DepreciationFurniture Rent Expense Prepaid Rent Cost of Goods Sold Software Inventory Bal. Jan. 2 Jan. 28 Cash 16,400 Jan. 2 Jan. 20 Jan. 21 Jan. 24 Accounts Payable Jan. 21 4,700 Bal. Jan. 7 Jan. 22 Bal. Service Revenue Salaries Payable 685 Sales Revenue Jan. 2 Jan. 19 Bal. Bal. Accounts Receivable Bal. 1,750 Jan. 18 Jan. 19 Bal. Jan. 20 Software Inventory Jan. 7 Jan. 22 Jan. 18 Jan. 28 Adj. Bal. Adj. Bal. Unearned Revenue 700 Bal. 700 Bal. Bal. Bal. Bal. Office Supplies 200 200 Davis, Capital 18,165 18,165 Prepaid Rent Jan. 2 Bal. Bal. Bal. Adj. Equipment 1,800 1,800 Accumulated DepreciationEquipment 30 Bal. Adj. Bal. Bal. Bal. Furniture 4,200 4,200 Accumulated DepreciationFurniture 70 Bal. Adj. Bal. Davis, Withdrawals Bal. 0 Jan. 18 Jan. 28 Bal. Cost of Goods Sold Jan. 18 Jan. 28 Adj. Bal. Salaries Expense Bal. Bal. Jan. 20 Adj. Bal. Utilities Expense Jan. 24 Bal. Rent Expense Adj. Bal. Depreciation ExpenseEquipment Adj. Bal. Depreciation ExpenseFurniture Adj. Bal. DAVIS CONSULTING Adjusted Trial Balance January 31, 2015 Account Title Balance Debit Cash Accounts Receivable Software Inventory Office Supplies Prepaid Rent Equipment Accumulated DepreciationEquipment Furniture Accumulated DepreciationFurniture Accounts Payable Salaries Payable Unearned Revenue Davis, Capital Service Revenue Sales Revenue Cost of Goods Sold Salaries Expense Utilities Expense Rent Expense Depreciation ExpenseEquipment Depreciation ExpenseFurniture Total Credit Date Sep. 3 Sep. 4 Sep. 4 Sep. 6 Sep. 8 Sep. 8 Sep. 9 Sep. 10 Sep. 12 Sep. 13 Sep. 15 Sep. 15 Sep. 22 Sep. 23 Sep. 23 Sep. 25 Sep. 25 Sep. 25 Sep. 26 Sep. 29 Sep. 30 Accounts and Explanation Merchandizing Inventory Accounts Payable- Shallin Wholesale Debit Credit 5,000 5,000 Merchandise Inventory Cash 80 Merchandise Inventory Cash 1,700 Accounts Payable- Shallin Wholesale Merchandise Inventory 80 1,700 500 500 Accounts Receivable- Hermosa Company Sales Revenue 6,000 Cost of Good Sold Merchandise Inventory 2,640 Merchandise Inventory Accounts Payable- Thomas Wholesale 8,000 Accounts Payable- Shallin Wholesale Cash Merchandise Inventory 4,580 Cash Sales Discount Accounts recievable- Hermosa Company 5,880 120 Accounts Payable- Thomas Wholesale Merchandise Inventory 6,000 2,640 8,000 4,535 45 6,000 200 200 Accounts Recievable- Jordan Company Sales Revenue 2,500 Costs Of Good Sold Merchandise Inventory 2,500 Accounts Payable- Thomas Wholesale Cash 7,800 2,500 2,500 7,800 Sales Return and Allowance Accounts Receivable- Jordan Company 400 Merchandise Inventory Costs of Goods Sold 160 400 160 Accounts Receivable- Smithsons Sales Revenue 1,100 Costs of Good Sold Merchandise Inventory 400 Accounts Receivable- Smithsons Cash 75 Sales Return and Allowance Accounts Receivable 1,100 400 75 100 100 Cash Sales Discounts Accounts Receivable- Smithsons 1,055 20 Cash 2,100 Accounts Receivable- Jordan Company 1,075 2,100 Available accounts for journal entries: Merchandise Inventory Accounts PayableShallin Wholesalers Merchandise Inventory Cash Merchandise Inventory Cash Accounts PayableShallin Wholesalers Merchandise Inventory Accounts ReceivableHermosa Company Sales Revenue Cost of Goods Sold Merchandise Inventory Merchandise Inventory Accounts PayableThomas Wholesalers Accounts PayableShallin Wholesalers Cash Merchandise Inventory Cash Sales Discounts Accounts ReceivableHermosa Company Accounts PayableThomas Wholesalers Merchandise Inventory Accounts ReceivableJordan Company Sales Revenue Cost of Goods Sold Merchandise Inventory Accounts PayableThomas Wholesalers Cash Sales Returns and Allowance Accounts ReceivableJordan Company Merchandise Inventory Cost of Goods Sold Accounts ReceivableSmithsons Sales Revenue Cost of Goods Sold Merchandise Inventory Accounts ReceivableSmithsons Cash Sales Returns and Allowance Accounts ReceivableSmithsons Cash Sales Discounts Accounts ReceivableSmithsons Cash Accounts ReceivableJordan Company Perpetual Inventory Record: FIFO Date Quantity Aug. 1 3 8 21 30 Totals Purchases Unit Cost Total Cost Quantity Cost of Goods Sold Unit Total Cost Cost Quantity Inventory on Hand Unit Total Cost Cost Perpetual Inventory Record: LIFO Date Quantity Aug. 1 3 8 21 30 Totals Purchases Unit Total Cost Cost Quantity Cost of Goods Sold Unit Total Cost Cost Quantity Inventory on Hand Unit Total Cost Cost Perpetual Inventory Record: Weighted-Average Date Quantity Purchases Unit Cost Total Cost Cost of Goods Sold Unit Quantity Total Cost Cost Aug. 1 3 8 21 30 Totals Calculations: Weighted a (a) = Cost of goods available for sale / Number of units available After the Aug. 8 purchase: = = = (b) After the Aug. 30 purchase: = = = Quantity Inventory on Hand Unit Total Cost Cost Determine the company's cost of goods sold for August using FIFO, LIFO and weighted-average inventory costing methods. Hint: look at the schedules that you just prepared for each method in the cost of goods sold section- the total cost. This is COGS. Compute gross profit for August using FIFO, LIFO, and weighted-average inventory costing methods. Calculations: Sales revenue = Number of units sold Sales price per unit Aug. 3 sale: = = Aug. 21 sale: = = Total sales revenue = Sales revenue from Aug. 3 sale + Sales revenue from Aug. 21 sale The sales revenue is the same for FIFO, LIFO and weighted - average = = FIFO Total Sales Revenue Cost of Goods Sold Gross Profit LIFO WeightedAverage hint: the total sales revenue will be the same for each section. If the business wanted to maximize gross profit, which method would it select? Perpetual Inventory Record: LIFO Purchases Unit Quantity Cost Date Total Cost Cost of Goods Sold Unit Quantity Total Cost Cost Quantity Jan. 7 18 22 28 31 Totals Calculations: Unit cost of inventory purchased = (a) Total cost / Total number of units Jan. 7 purchase: = = = (b) Jan. 22 purchase: = = (c) Units adjustment for inventory shrinkage: per physical count per inventory record adjustment needed Inventory on Hand Unit Total Cost Cost Date Jan. 2 Accounts and Explanation Debit Credit Available accounts for journal entries: Jan. 2 Jan. 7 Jan. 18 Jan. 19 Jan. 20 Jan. 21 Jan. 22 Jan. 24 Jan. 28 For cost of inventory purchased remember to add freight in Cash Service Revenue Prepaid Rent Cash Software Inventory Accounts Payable Accounts Receivable Sales Revenue Cost of Goods Sold Software Inventory Accounts Receivable Service Revenue Salaries Payable Salaries Expense Cash Accounts Payable Cash Software Inventory Accounts Payable Utilities Expense Cash Cash Sales Revenue Cost of Goods Sold Software Inventory Bal. Jan. 2 Jan. 28 Cash 16,400 Jan. 2 Jan. 20 Jan. 21 Jan. 24 Jan. 21 Accounts Payable 4,700 Service Revenue Bal. Jan. 7 Jan. 22 Bal. Jan. 2 Jan. 19 Bal. Bal. Accounts Receivable Bal. 1,750 Jan. 18 Jan. 19 Bal. Jan. 20 Salaries Payable 685 0 Software Inventory Bal. 0 Jan. 18 Jan. 7 Jan. 22 Jan. 28 Bal. Davis, Capital 18,165 18,165 Prepaid Rent 0 Bal. Bal. Jan. 18 Jan. 28 Bal. Unearned Revenue Office Supplies 200 200 Sales Revenue Davis, Withdrawals Bal. Bal. Bal. Jan. 2 Cost of Goods Sold 700 Jan. 18 700 Bal. Bal. Bal. Jan. 28 Bal. Salaries Expense Bal. Bal. Jan. 20 Bal. Utilities Expense 0 Jan. 24 Bal. Bal. . Equipment 1,800 1,800 Rent Expense Accumulated DepreciationEquipment 30 Bal. 30 Bal. Depreciation ExpenseEquipment Furniture 4,200 4,200 Depreciation ExpenseFurniture Bal. Bal. Bal. Bal. Accumulated DepreciationFurniture 70 Bal. 70 Bal. Date Jan. 31 Jan. 31 Jan. 31 Jan. 31 Accounts and Explanation Debit Credit Available accounts for journal entries: Salaries Expense Salaries Payable Depreciation ExpenseEquipment Depreciation ExpenseFurniture Accumulated DepreciationEquipment Accumulated DepreciationFurniture Rent Expense Prepaid Rent Cost of Goods Sold Software Inventory Bal. Jan. 2 Jan. 28 Cash 16,400 Jan. 2 Jan. 20 Jan. 21 Jan. 24 Accounts Payable Jan. 21 4,700 Bal. Jan. 7 Jan. 22 Bal. Service Revenue Salaries Payable 685 Sales Revenue Jan. 2 Jan. 19 Bal. Bal. Accounts Receivable Bal. 1,750 Jan. 18 Jan. 19 Bal. Jan. 20 Software Inventory Jan. 7 Jan. 22 Jan. 18 Jan. 28 Adj. Bal. Adj. Bal. Unearned Revenue 700 Bal. 700 Bal. Bal. Bal. Bal. Office Supplies 200 200 Davis, Capital 18,165 18,165 Prepaid Rent Jan. 2 Bal. Bal. Bal. Adj. Equipment 1,800 1,800 Accumulated DepreciationEquipment 30 Bal. Adj. Bal. Bal. Bal. Furniture 4,200 4,200 Accumulated DepreciationFurniture 70 Bal. Adj. Bal. Davis, Withdrawals Bal. 0 Jan. 18 Jan. 28 Bal. Cost of Goods Sold Jan. 18 Jan. 28 Adj. Bal. Salaries Expense Bal. Bal. Jan. 20 Adj. Bal. Utilities Expense Jan. 24 Bal. Rent Expense Adj. Bal. Depreciation ExpenseEquipment Adj. Bal. Depreciation ExpenseFurniture Adj. Bal. DAVIS CONSULTING Adjusted Trial Balance January 31, 2015 Account Title Balance Debit Cash Accounts Receivable Software Inventory Office Supplies Prepaid Rent Equipment Accumulated DepreciationEquipment Furniture Accumulated DepreciationFurniture Accounts Payable Salaries Payable Unearned Revenue Davis, Capital Service Revenue Sales Revenue Cost of Goods Sold Salaries Expense Utilities Expense Rent Expense Depreciation ExpenseEquipment Depreciation ExpenseFurniture Total Credit