lems $-$ Chapters $4$

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The following unadjusted trial balance is prepared at fiscal year$-$end for Nelson Company. Nelson Company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense$-$Store Equipment, Sales Salaries Expense, Rent Expense$-$Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative..

Additional Information:

a$.$ Store supplies still available at fiscal year$-$end amount to $$2,500.$

b$.$ Expired insurance, an administrative expense, is $$1,750$ for the fiscal year.

c$.$ Depreciation expense on store equipment, a selling expense, is $$1,525$ for the fiscal year.

d$.$ To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $$10,800$ of inventory is still available at fiscal year$-$end.

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