Check my wo GL0403 - Based on Problem 4-5A LO C2, P3 The fiscal year-end unadjusted trial balance for Perry Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Perry 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 $3,100. b. Expired insurance, an administrative expense, for the fiscal year is $1,940. c. Depreciation expense on store equipment, a selling expense, is $6.600 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,840 of inventory is still available at fiscal year-end. Requirement General Single Step IS Balance Sheet Ratios General Multiple Step Trial Balance Ledger IS General Journal Prepare a classified balance sheet as of January 31, 2017. Adjusted Perry Company Balance Sheet January 31, 2019 Assets Current Assets Prepaid insurance Cash 1,160 19,700 Assets $ 1,160 19,700 11,840 3,100 0 s Book Current Assets Prepaid insurance Cash Merchandise inventory Store supplies No journal entry required Total current assets Plant assets Store equipment Accumulated depreciation - Store equip. Store equipment, net Total assets $ 35,800 Print ferences 66,000 (36,300) 29,700 65,500 Liabilities and Equity Liabilities Accounts payable 1 15,400 0 Total liabilities $ 15,400 Equity Common stock Retained earnings Total equity Total liabilities and equity 10,400 65,600 76,000 91,400 $ Check my w Perry Company Trial Balance January 31, 2019 Account Title Credit $ Debit 19,700 11,840 3,100 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation - Store equip. Accounts payable Common stock Retained earnings Dividends 1,160 66,000 36.300 15,400 10.400 35,100 5,300 Sales 139,000 Sales discounts sales returns and allowances Cost of goods sold Depreciation expense - Store equip. Salaries expense Insurance expense Rent expense Store supplies expense Advertising expense Total 4,200 4,400 42,760 6,600 37.000 1.940 14,800 6,200 11,200 236,200 $ S 236,200