BizKid Company's adjusted trial balance on August 31, 2011, its fiscal year-end, follows.











Debit





Credit





Merchandise inventory



$

42,000











Other (noninventory) assets





168,000











Total liabilities









$

48,510





N. Kidman, Capital











137,550





N. Kidman, Withdrawals





8,000











Sales











287,280





Sales discounts





4,395











Sales returns and allowances





18,960











Cost of goods sold





110,754











Sales salaries expense





39,357











Rent expense—Selling space





13,502











Store supplies expense





3,447











Advertising expense





24,419











Office salaries expense





35,910











Rent expense—Office space





3,447











Office supplies expense





1,149
















--------------------------------------------------------------------------------



--------------------------------------------------------------------------------





--------------------------------------------------------------------------------



--------------------------------------------------------------------------------






Totals



$

473,340



$

473,340










--------------------------------------------------------------------------------

--------------------------------------------------------------------------------



--------------------------------------------------------------------------------

--------------------------------------------------------------------------------





--------------------------------------------------------------------------------

--------------------------------------------------------------------------------



--------------------------------------------------------------------------------

--------------------------------------------------------------------------------







--------------------------------------------------------------------------------







On August 31, 2010, merchandise inventory was $33,894. Supplementary records of merchandising activities for the year ended August 31, 2011, reveal the following itemized costs.













Invoice cost of merchandise purchases

$

123,480



Purchase discounts received



2,593



Purchase returns and allowances



5,927



Costs of transportation-in



3,900




--------------------------------------------------------------------------------