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 Common stock Retained earnings Dividends 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 s 12,500 13,500 5,600 2,100 42,500 19,900 12,000 3,800 2,000 19,000 116,300 1, 850 2,250 38,000 26, 600 15,000 9,100 $171,000 $171,000 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 $1,550 b. Expired insurance, an administrative expense, for the fiscal year is $1,450 c. Depreciation expense on store equipment, a selling expense, is $1,675 for the fiscal year d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,100 of inventory is still available at fiscal year-end 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 Common stock Retained earnings Dividends 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 s 12,500 13,500 5,600 2,100 42,500 19,900 12,000 3,800 2,000 19,000 116,300 1, 850 2,250 38,000 26, 600 15,000 9,100 $171,000 $171,000 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 $1,550 b. Expired insurance, an administrative expense, for the fiscal year is $1,450 c. Depreciation expense on store equipment, a selling expense, is $1,675 for the fiscal year d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,100 of inventory is still available at fiscal year-end