Chapter 5-Homework GLO503-Based on Problem 5-5A Nelson Company LO C2, P3 The fiscal year-end unadjusted trial balance for Nelson Company is found on the trial balance tab. 20 points Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2017, follow. a. Store supplies still available at fiscal year-end amount to $2.650. b. Expired insurance. an administrative expense, for the fiscal year is $1.760. c Depreciation expense on store equipment, a selling expense, is $6.700 for the fiscal year d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. it shows $11.000 of inventory is still available at fiscal year-end Requirement Journal General General Ledger Trial Balance Muitiple Step Single Step IS Balance Sheet Ratios TS For transactions 1-4 prepare the required adjusting journal entries. For transactions 5-8 prepare the required clesing Journal entry worksheet 2 a) Store supplies stin evaabl at fiscal year-end?mount to $2.650 Account Titie Debit 0 Type here to search Chapter 5-Homework GLO503-Based on Problem 5-5A Nelson Company LO C2, P3 The fiscal year-end unadjusted trial balance for Nelson Company is found on the trial balance tab. 20 points Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2017, follow. a. Store supplies still available at fiscal year-end amount to $2.650. b. Expired insurance. an administrative expense, for the fiscal year is $1.760. c Depreciation expense on store equipment, a selling expense, is $6.700 for the fiscal year d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. it shows $11.000 of inventory is still available at fiscal year-end Requirement Journal General General Ledger Trial Balance Muitiple Step Single Step IS Balance Sheet Ratios TS For transactions 1-4 prepare the required adjusting journal entries. For transactions 5-8 prepare the required clesing Journal entry worksheet 2 a) Store supplies stin evaabl at fiscal year-end?mount to $2.650 Account Titie Debit 0 Type here to search