GL0403 - Based on Problem 4-5A LO C2, P3 The fiscal year end unadjusted trial balance for Parker Company is found on the trial balance tab Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Parker 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 $2.900 b. Expired insurance, an administrative expense, for the fiscal year is 51.860 c. Depreciation expense on store equipment, a selling expense, is $6,200 for the fiscal year d. To estimate shrinkage, a physical count of ending merchandise Inventory is taken It shows $11.560 of Inventory is still avadable at fiscal year-end Ratios General Journal Requirement General Ledger Multiple Step Single Step Is Balance Sheet IS Trial Balance 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 fournal entries that affected that account to ensure that the journal entries are correct. Show less GL0403 - Based on Problem 4-5A LO C2, P3 The fiscal year end unadjusted trial balance for Parker Company is found on the trial balance tab Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Parker 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 $2.900 b. Expired insurance, an administrative expense, for the fiscal year is 51.860 c. Depreciation expense on store equipment, a selling expense, is $6,200 for the fiscal year d. To estimate shrinkage, a physical count of ending merchandise Inventory is taken It shows $11.560 of Inventory is still avadable at fiscal year-end Ratios General Journal Requirement General Ledger Multiple Step Single Step Is Balance Sheet IS Trial Balance 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 fournal entries that affected that account to ensure that the journal entries are correct. Show less