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Assignment
The following amounts appeared on Davison Company's adjusted trial balance as of October 31, 2017, the end of its fiscal year:
Debit
Credit
Merchandise inventory
15,000
Other assets
246,800
Liabilities
77,400
Brenda Davison, capital
192,880
Brenda Davison, withdrawals
64,000
Interest income
1,020
Sales
414,000
Sales discounts
5,500
Sales returns and allowances
27,000
Cost of goods sold
168,300
Sales salaries expense
51,000
Rent expense, selling space
18,000
Store supplies expense
4,000
Advertising expense
28,400
Office salaries expense
52,000
Rent expense, office space
4,200
Office supplies expense
1,100
Totals
685,300
Required:
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