Problem 5-6AD Preparing a work sheet for a merchandiser LO P3 The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Rent expense and salaries expense are equally divided between seliling activities and general and administrative activitios. Nelson Company uses a perpetual inventory system. Additional Information: a. Store supplies still available at fiscal year-end amount to \$1,650. b. Expired insurance, an administrative expense, for the fiscal year is $1,650. c. Deprectotion expense on store efuipment, a selling expense, is $1,550 for the fiscal yeac. d. To estimate shrinkage, o physical count of ending merchandise inventory is taken. It shows $10,700 of inventory is still avaliable at fiscal year-end. Problem 5-6AD Preparing a work sheet for a merchandiser LO P3 The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Rent expense and salaries expense are equally divided between seliling activities and general and administrative activitios. Nelson Company uses a perpetual inventory system. Additional Information: a. Store supplies still available at fiscal year-end amount to \$1,650. b. Expired insurance, an administrative expense, for the fiscal year is $1,650. c. Deprectotion expense on store efuipment, a selling expense, is $1,550 for the fiscal yeac. d. To estimate shrinkage, o physical count of ending merchandise inventory is taken. It shows $10,700 of inventory is still avaliable at fiscal year-end