In: Accounting
Good to Go Auto Products distributes automobile parts to service
stations and repair shops. The adjusted trial balance data that
follows is from the firm’s worksheet for the year ended December
31, 2019.
Accounts | Debit | Credit | ||||
Cash | $ | 97,600 | ||||
Petty Cash Fund | 400 | |||||
Notes Receivable, due 2020 | 17,000 | |||||
Accounts Receivable | 138,800 | |||||
Allowance for Doubtful Accounts | $ | 2,400 | ||||
Interest Receivable | 170 | |||||
Merchandise Inventory | 127,100 | |||||
Warehouse Supplies | 1,900 | |||||
Office Supplies | 560 | |||||
Prepaid Insurance | 3,240 | |||||
Land | 14,600 | |||||
Building | 100,000 | |||||
Accumulated Depreciation—Building | 16,000 | |||||
Warehouse Equipment | 18,400 | |||||
Accumulated Depreciation—Warehouse Equipment | 8,800 | |||||
Office Equipment | 8,000 | |||||
Accumulated Depreciation—Office Equipment | 3,200 | |||||
Notes Payable, due 2020 | 13,600 | |||||
Accounts Payable | 55,500 | |||||
Interest Payable | 260 | |||||
Loans Payable—Long-Term | 10,000 | |||||
Mortgage Payable | 13,000 | |||||
Colin O’Brien, Capital (Jan. 1) | 322,110 | |||||
Colin O’Brien, Drawing | 69,250 | |||||
Income Summary | 130,000 | 127,100 | ||||
Sales | 1,082,300 | |||||
Sales Returns and Allowances | 7,000 | |||||
Interest Income | 440 | |||||
Purchases | 449,000 | |||||
Freight In | 8,400 | |||||
Purchases Returns and Allowances | 12,250 | |||||
Purchases Discounts | 7,840 | |||||
Warehouse Wages Expense | 107,200 | |||||
Warehouse Supplies Expense | 4,400 | |||||
Depreciation Expense—Warehouse Equipment | 2,000 | |||||
Salaries Expense—Sales | 150,300 | |||||
Travel Expense | 22,600 | |||||
Delivery Expense | 36,025 | |||||
Salaries Expense—Office | 83,600 | |||||
Office Supplies Expense | 1,080 | |||||
Insurance Expense | 8,475 | |||||
Utilities Expense | 6,600 | |||||
Telephone Expense | 3,140 | |||||
Payroll Taxes Expense | 30,200 | |||||
Building Repairs Expense | 2,300 | |||||
Property Taxes Expense | 15,000 | |||||
Uncollectible Accounts Expense | 2,180 | |||||
Depreciation Expense—Building | 4,200 | |||||
Depreciation Expense—Office Equipment | 1,480 | |||||
Interest Expense | 2,600 | |||||
Totals | $ | 1,674,800 | $ | 1,674,800 | ||
Required:
Analyze:
What percentage of total operating expenses is attributable to
warehouse expenses?