Question: please HELP this is only one question!!! The following information applies to the questions displayed below.] The following unadjusted trial balance is prepared at fiscal

please HELP this is only one question!!!
please HELP this is only one question!!! The following information applies to
the questions displayed below.] The following unadjusted trial balance is prepared at
fiscal year-end for Nelson Company. Nelson Company uses a perpetual inventory system.
It categorizes the following accounts as selling expenses: Depreciation Expense-Store Equipment, Sales
Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It
categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial
Balance January 31 Credit Debit $ 1,000 12,500 5,800 2,400 42,900 $

The following information applies to the questions displayed below.] The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson Company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense-Store Equipment, Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. NELSON COMPANY Unadjusted Trial Balance January 31 Credit Debit $ 1,000 12,500 5,800 2,400 42,900 $ 15,250 10,000 32,000 2,200 111,950 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-store equipment Accounts payable J. Nelson, Capital J. Nelson, Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Sales salaries expense Office salaries expense Insurance expense Rent expense-Selling space Rent expense-office space Store supplies expense Advertising expense Totals 2,000 2,200 38,400 0 17,500 17,500 7,500 7,500 @ 9,800 $ 169,200 $ 169,200 Additional Information: a. Store supplies still available at fiscal year-end amount to $1,750. b. Expired insurance, an administrative expense, is $1,400 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,525 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,900 of inventory is still available at fiscal year-end. Required 1 Required 2 Required 3 Using the above information, prepare adjusting journal entries. View transaction list Journal entry worksheet Store supplies still available at fiscal year-end amount to $1,750. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Required 1 Required 2 > Required 1 Required 2 Required 3 Using the above information, prepare adjusting journal entries. View transaction list Journal entry worksheet Expired insurance, an administrative expense, is $1,400 for the fiscal year. Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry Clear entry View general Journal Required Required 2 > Required 1 Required 2 Required 3 Using the above information, prepare adjusting journal entries. View transaction list Journal entry worksheet Required 1 Required 2 Required 3 Using the above information, prepare adjusting journal entries. View transaction list Journal entry worksheet Prepare a multiple-step income statement for the year ended January 31 that begins with gross sales and includes se categories for net sales, cost of goods sold, selling expenses, and general and administrative expenses. NELSON COMPANY Income Statement For Year Ended January 31 0 0 0 Expenses Selling expenses 0 Total selling expenses General and administrative expenses 0 Total general and administrative expenses Total expenses 0 Required 1 Required 2 Required 3 Prepare a single-step income statement for the year ended January 31. NELSON COMPANY Income Statement For Year Ended January 31 Expenses Total expenses 0

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