| BizKid Companys adjusted trial balance on August 31, 2011, its fiscal year-end, follows. |
| Debit | Credit | |||||||||||||||
| Merchandise inventory | $ | 38,500 | ||||||||||||||
| Other (noninventory) assets | 154,000 | |||||||||||||||
| Total liabilities | $ | 44,468 | ||||||||||||||
| Common stock | 75,256 | |||||||||||||||
| Retained earnings | 51,825 | |||||||||||||||
| Dividends | 8,000 | |||||||||||||||
| Sales | 263,340 | |||||||||||||||
| Sales discounts | 4,029 | |||||||||||||||
| Sales returns and allowances | 17,380 | |||||||||||||||
| Cost of goods sold | 101,850 | |||||||||||||||
| Sales salaries expense | 36,078 | |||||||||||||||
| Rent expense”Selling space | 12,377 | |||||||||||||||
| Store supplies expense | 3,160 | |||||||||||||||
| Advertising expense | 22,384 | |||||||||||||||
| Office salaries expense | 32,918 | |||||||||||||||
| Rent expense”Office space | 3,160 | |||||||||||||||
| Office supplies expense | 1,053 | |||||||||||||||
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| Totals | $ | 434,889 | $ | 434,889 | ||||||||||||
Compute the companys net sales for the year |
| Compute the companys total cost of merchandise purchased for the year. | ||||
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