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The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2013, unadjusted trial balance of Emiko Co., a
The following list includes selected permanent accounts and all of the temporary accounts from the December 31, 2013, unadjusted trial balance of Emiko Co., a business owned by Kumi Emiko. Emiko Co. uses a perpetual inventory system. Debit Credit Merchandise inventory $ 27,900 Prepaid selling expenses 5,500 Dividends 2,200 Sales $ 502,200 Sales returns and allowances 19,084 Sales discounts 5,344 Cost of goods sold 247,082 Sales salaries expense 55,242 Utilities expense 16,070 Selling expenses 43,189 Administrative expenses 110,986
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