On the last problem cp6-46 the trial balance isn't adding up to equal each other and I'm not sure on what is off in the previous problems. I downloaded a document from this site , but I feel like it gave me the wrong answers.

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 Merchandise Inventory Accounts Payable- Shallin Wholesalers Purchase of Inventory on Account Merchandise Inventory 80 Cash Paid Freight Bill Merchandise Inventory Cash Purchased Inventory for cash Accounts Payable-Shallin Wholesalers Merchadise Inventory Returned Inventory to seller(vendor) Accounts Receivable -Hermosa Company Sales Revenue Sale on Account Cost of Goods Sold Merchandise Inventory Recorded the Cost of Goods Sold Merchandise Inventory Accounts Payable- ThomasWhokesalers Purchase of Inventory on Account Accounts Payable -Shallin Wholesalers Cash Merchandise Inventory Paid Within Discount Period Cash Sales Discounts Accounts Receivable-Hermosa Company Cash Collection within the discount period Accounts Payable- Thomas Wholesalers Merchandise Inventory Received an Allowance Accounts Receivable- Jordan Company Sales Revenue Sale on Account Cost of Goods Sold Merchandise Inventory Recorded the Cost of Goods Sold Accounts Payable- Thomas Wholesalers Cash Payment less allowance Sales Return and Allowances Accounts Receivable Received returned goods Merchandise Inventory Cost of Goods Sold Placed goods back in inventory Accounts Receivable -Smithsons Sales Revenue Sale on Account Cost of Goods Sold Merchandise Inventory Recorded the Cost of Goods Sold Accounts Receivable- Smithsons Cash Freight Paid Sales Return and Allowances Accounts Receivable-Smithsons Received an Allowance Cash Sales Discounts Accounts Receivable-Smithsons Cash Collection within the discount period Cash Accounts Receivable- Jordan Company Payment less return Debit Credit 5,000 5,000 80 1,700 1,700 500 500 6,000 6,000 2,640 2,640 8,000 8,000 5,000 4,950 50 5,880 120 6,000 200 200 2,500 2,500 1,050 1,050 7,840 7,840 2500 2500 160 160 1,100 1,100 400 400 75 75 100 100 1,053 22 1,075 2,100 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 Purchases Unit Cost Total Cost Quantity Cost of Goods Sold Unit Total Cost Cost Quantity Aug. 1 55 3 8 Inventory on Hand Unit Total Cost Cost 45 units x $35 75 x $52 10 60 10 Totals 85 x $55 $1,575 $3,900 21 30 $1,575 x $35 x $52 $350 $3,120 $3,470 $550 $4,450 115 $5,045 x $35 $1,925 10 10 75 x $35 x $83 x $52 350 350 3,900 15 15 10 x $52 x $52 x $55 780 780 $550 25 $1,925 $5,660 $3,900 $1,560 $550 $1,330 Perpetual Inventory Record: LIFO Date Quantity Purchases Unit Total Cost Cost Quantity Cost of Goods Sold Unit Total Cost Cost Quantity Aug. 1 55 3 8 Inventory on Hand Unit Total Cost Cost 45 75 $52 $35 $1,575 $1,575 $3,900 21 70 $52 $3,640 $3,640 $35 $1,925 10 $35 350 10 75 10 5 $35 $52 $35 $52 $350 $3,900 $350 $260 $1,925 $350 $4,250 $610 30 $550 Totals 10 85 $55 $550 $4,450 115 $5,215 10 25 $55 $550 $1,160 Perpetual Inventory Record: Weighted-Average Date Aug. 1 3 8 21 30 Totals Quantity Purchases Unit Cost Total Cost Cost of Goods Sold Unit Quantity Total Cost Cost 45 $52 $1,575 70 75 $35 $50 $3,500 $3,900 10 85 $55 $550 $4,450 = Cost of goods available for sale / Number of units available 115 $5,075 Calculations: Weighted a (a) After the Aug. 8 purchase: = (350 + 3900) / ( (85 units + 10 units) = = (b) $4,250 / 100 units $42.50 After the Aug. 30 purchase: = (750+550) / (15 units + 25 units) = 1300/ 40 units = $32.50 Quantity 55 10 85 15 25 25 Inventory on Hand Unit Total Cost Cost $35 $1,925 $35 $350 $50 $350 $50 $750 $52 $1,300 $1,300 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. Cost of Goods Sold FIFO $5,045 LIFO $5,215 Average $5,075 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 = 45 x 83 Aug. 3 sale: = $3,735 Aug. 21 sale: = = Total sales revenue 70 x 85 $5,950 = Sales revenue from Aug. 3 sale + Sales revenue from Aug. 21 sale = 3735+5950 = $9,685 FIFO Total Sales Revenue Cost of Goods Sold Gross Profit The sales revenue is the same for FIFO, LIFO and weighted - average LIFO $9,685 5,045 $4,640 $9,685 5,215 $4,470 WeightedAverage $9,685 5,075 $4,610 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? The business should select FIFO as their method to use. Perpetual Inventory Record: LIFO Purchases Unit Quantity Cost Date Jan. 7 80 Total Cost 22 26 40 80 15 31 Totals 320 880 880 $8,000 22 26 26 880 2,080 390 2,960 390 175 $4,230 Calculations: Unit cost of inventory purchased = (a) (b) $22 Jan. 22 purchase: = 6240 /240 0 = (c) 1,760 40 22 880 22 26 880 6,240 160 26 4,160 145 145 26 3,770 Total cost / Total number of units Jan. 7 purchase: = 1760 / 80 = 22 40 240 22 6,240 28 Inventory on Hand Unit Total Cost Cost 80 40 240 Quantity 1,760 18 22 Cost of Goods Sold Unit Quantity Total Cost Cost $26 Units adjustment for inventory shrinkage: 145 per physical count 160 per inventory records 15 adjustment needed 1,760 880 7,120 4,160 3,770 $3,770 Date Jan. 2 Accounts and Explanation Cash Debit 7,800 Service Revenue to record cash received Jan. 2 Jan. 7 Jan. 18 Jan. 20 Jan. 21 Jan. 22 Jan. 24 Jan. 28 Available accounts for journal entries: 7,800 Prepaid Rent Cash to record prepaid rent 1,650 Software Inventory Accounts Payable to record purchased inventory on account 1,840 Accounts Recievable Sales Revenue to record sales on account 3,500 1,650 For cost of inventory purchased remember to add freight in 1,840 3,500 Cost of Goods Sold Software Inventory to adjust cost of goods sold Jan. 19 Credit 880 880 Accounts Recievable Service Revenue to record revenue on account 1,000 Salaries Payable Salaries Expense Cash to record expenses 685 1,370 Accounts Payable Cash to record cash paid for payables 1,760 Software Inventory Accounts Payable to record purchases on account 6,240 1,000 2,055 1,760 6,240 Utilities Expense Cash to record utlities expense 250 250 Cash 4,680 Sales Revenue to record sales on cash Cost of Goods Sold Software Inventory to adjust cost of goods sold account 4,680 2,960 2,960 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 Bal. Cash 16,400 1,650 7,800 2,055 4,680 1,760 250 23,165 Jan. 2 Jan. 20 Jan. 21 Jan. 24 Accounts Receivable Bal. 1,750 Jan. 18 3,500 Jan. 19 1,000 Bal. 6,250 Bal. Jan. 7 Jan. 22 Bal. Bal. Bal. Bal. Jan. 2 Bal. Jan. 21 Jan. 20 Software Inventory 0 880 Jan. 18 1,840 6,240 2,960 Jan. 28 4,240 Accounts Payable 1,760 4,700 1,840 6,240 11,020 Salaries Payable 685 685 0 Service Revenue 7,800 Jan. 2 1,000 Jan. 19 8,800 Bal. Bal. Jan. 7 Jan. 22 Bal. Sales Revenue 3,500 4,680 8,180 Bal. Bal. Unearned Revenue Cost of Goods Sold 700 Bal. Jan. 18 880 700 Bal. Jan. 28 Bal. 2,960 3,840 Office Supplies 200 200 Davis, Capital 18,165 18,165 Prepaid Rent 0 1,650 Davis, Withdrawals Bal. Jan. 18 Jan. 28 Bal. Salaries Expense Jan. 20 1,370 Bal. 1,370 Bal. Bal. Utilities Expense 0 Jan. 24 Bal. 1,650 250 250 . 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 Salaries Expense Salaries Payable Depreciation ExpenseEquipment Depreciation ExpenseFurniture Accumulated DepreciationEquipment Accumulated DepreciationFurniture Debit Credit Available accounts for journal entries: 686 686 30 70 30 70 Rent Expense Prepaid Rent 550 Cost of Goods Sold Software Inventory 390 550 390 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 Bal. Bal. Jan. 18 Jan. 19 Bal. Cash 16,400 1,650 7,800 2,055 4,680 1,760 250 23,165 Jan. 2 Jan. 20 Jan. 21 Jan. 24 Accounts Receivable 1,750 3,500 1,000 6,250 Jan. 20 Software Inventory Jan. 7 1,840 880 Jan. 18 Jan. 22 6,240 2,960 Jan. 28 390 Adj. Bal. 4,240 Bal. Bal. Jan. 2 Bal. Bal. Bal. Office Supplies 200 200 Prepaid Rent 1,650 550 1,100 Salaries Payable 685 685 686 686 Adj. Equipment 1,800 1,800 Furniture 4,200 4,200 Accumulated DepreciationFurniture 70 Bal. 70 Adj. 140 Bal. Davis, Withdrawals Bal. 0 Service Revenue 7,800 Jan. 2 1,000 Jan. 19 8,800 Bal. Bal. Jan. 7 Jan. 22 Bal. Sales Revenue 3,500 4,680 8,180 Bal. Adj. Bal. Unearned Revenue 700 Bal. 700 Bal. Davis, Capital 18,165 18,165 Accumulated DepreciationEquipment 30 Bal. 30 Adj. 60 Bal. Bal. Bal. Accounts Payable Jan. 21 1,760 4,700 1,840 6,240 11,020 Bal. Bal. Jan. 18 Jan. 28 Adj. Bal. Jan. 18 Jan. 28 Bal. Cost of Goods Sold 880 2,960 390 3,840 Salaries Expense Jan. 20 1,370 Adj. 686 Bal. 684 Utilities Expense Jan. 24 250 Bal. 250 Adj. Bal. Rent Expense 550 550 Depreciation ExpenseEquipment Adj. 70 Bal. 70 Depreciation ExpenseFurniture Adj. Bal. DAVIS CONSULTING Adjusted Trial Balance January 31, 2015 Account Title 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 Balance Debit 23,165 6,250 4,240 200 1,100 1,800 Credit 60 4,200 140 11,020 686 700 18,165 8,800 3,840 684 250 550 30 70 42,539 43,411