Question: says some of them are wrong plz help Using the above information, prepare adjusting journal entries. Problem 4-5A (Algo) Preparing adjusting entries and income statements;

says some of them are wrong plz help  says some of them are wrong plz help Using the above
information, prepare adjusting journal entries. Problem 4-5A (Algo) Preparing adjusting entries and
income statements; computing gross margin, acidtest, and current ratios LO A1, P3,
P4 [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

Using the above information, prepare adjusting journal entries. Problem 4-5A (Algo) Preparing adjusting entries and income statements; computing gross margin, acidtest, and current ratios LO A1, P3, P4 [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. 1. Using the above information, prepare adjusting journal entries. 2. Prepare a multiple-step income statement that includes separate categories for net sales, cost of goods sold, selling expenses. and general and administrative expenses. 3. Prepare a single-step income statement for the year ended January 31. Complete this question by entering youir answers in the tabs below. Using the above information, prepare adjusting fournal entries. Prepare a multiple-step income statement that includes separate categories for net sales, cost of goods sold, selling expenses, and general and administrative expenses. Raauirad infarmutina Additional Information: a. Store supplies still available at fiscal year-end amount to $2,950. b. Expired insurance, an administrative expense, is $1,350 for the fiscal year c. Depreciation expense on store equipment, a selling expense. is $1,550 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. Complete this question by entering your answers in the tabs below. Prepare a single-step income statement for the year ended January 31

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