The fiscal year-end unadjusted trial balance for Allen Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Allen 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 $2,550. b. Expired insurance, an administrative expense, for the fiscal year is $1,720. c. Depreciation expense on store equipment, a selling expense, is $6,500 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,720 of inventory is still available at fiscal year-end. The trial balance is a listing of all account balances from the General Ledger as of a specific date. Click on any individual account balance to return to the General Ledger. The trial balance is only as accurate as the underlying journal entries. If the total debits do not equal the total credits, you have a journal entry that is out of balance. If you have an abnormal ending balance indicated with brackets in the general ledger), you should review the journal entries that affected that account to ensure that the journal entries are correct. Show less Unadjusted Dates: Jan 31 to: Jan 31 Allen Company Trial Balance January 31, 2017 Account Title Debit Credit 16,150 11,400 7,650 2,800 65,000 29,250 13,200 8,200 31,800 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation - Store equip. Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Salaries expense Rent expense Advertising expense Total 4,800 128,000 3,800 4,000 38,000 33,000 13,200 10,650 210,450 $ 210,450 General Ledger Account Cash Debit Merchandise inventory Debit Credit No. Credit No. Date Jan 31 Balance 16,150 Date Jan 31 Balance 11,400 Store supplies Debit Credit Prepaid insurance Debit Credit No. No. Date Jan 31 Balance 7,650 Date Jan 31 Balance 2,800 Store equipment Debit Credit No. Date No. Balance 65,000 Accumulated depreciation - Store equip. Date Debit Credit Jan 31 Balance 29,250 Jan 31 Accounts payable Debit Credit Common stock Debit Credit No. Date No. Balance Balance 13,200 Date Jan 31 Jan 31 8,200 Dividends Retained earnings Debit Credit No. Date No. Debit Credit Balance 31,800 Date Jan 31 Balance 4,800 Jan 31 Sales Sales discounts No. Date Debit Credit Balance No. Date Debit Credit Balance Jan 31 128,000 Jan 31 3,800 Sales returns and allowances Debit Credit Cost of goods sold Debit Credit No. No. Date Date Jan 31 Balance 4,000 Balance 38,000 Jan 31 Rent expense Salaries expense Debit Credit No. No. Debit Credit Date Jan 31 Balance 33,000 Date Jan 31 Balance 13,200 Advertising expense Debit edit No. Date Jan 31 Balance 10,650 General Journal Trial Balance > Journal entry worksheet 1 2 3 4 5 6 7 8 > Store supplies still available at fiscal year-end amount to $2,550. Note: Enter debits before credits. Account Title Debit Credit Date Jan 31 Record entry Clear entry View general journal Journal entry worksheet Record the entry to close income statement accounts with credit balances. Note: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record entry Clear entry View general journal Journal entry worksheet Record the entry to close income statement accounts with debit balances. Note: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record entry Clear entry View general journal Journal entry worksheet