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I'm having trouble trying to find the sales salaries expense, and the rent expense; as well as the office salaries expense and the rent office
I'm having trouble trying to find the sales salaries expense, and the rent expense; as well as the office salaries expense and the rent office expense.
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2017 Debit Credit Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-Store equipment Accounts payable J. Nelson, Capital J. Nelson, Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Salaries expense Insurance expense Rent expense Store supplies expense Advertising expense Totals $40,550 12,500 5,700 2,300 42,800 $ 16,800 15,000 18,000 2,200 150,050 1,850 2,050 38,000 26,100 16,000 9,800 $199,850 $199,850 Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system Additional Information a. Store supplies still available at fiscal year-end amount to $2,400 b. Expired insurance, an administrative expense, for the fiscal year is $1,600 c. Depreciation expense on store equipment, a selling expense, is $1,575 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,200 of inventory is still available at fiscal year-end Income Statement For Year Ended January 31, 2017 $150,050 Sales Less: Sales returns and allowances Less: Sales discounts Net sales Cost of goods sold Gross profit Expense 2,050 1,850 3,900 146,150 40,300 105,850 Selling expenses Depreciation expense-Store equipment Sales salaries expense Store supplies expense Rent expense-Selling space Advertising expense 1,575 0 3,300 9,800 0 14,675 otal selling expenses General and administrative expenses Office salaries expense Insurance expense Rent expense-Office space 1,600 Total general and administrative expenses Total expenses 1,600 16,275 Net incomeStep by Step Solution
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