Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 13 Jul 2017 My Price 9.00

Analyze Adjusted Data

E3-7 (Analyze Adjusted Data)A partial adjusted trial balance of Safin Company at January 31, 2012, shows the following. 5 5 SAFIN COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2012Debit Credit Supplies $ 900 Prepaid Insurance 2,400 Salaries and Wages Payable $ 800 Unearned Revenue 750 Supplies Expense 950 Insurance Expense 400 Salaries and Wages Expense 1,800 Service Revenue 2,000

InstructionsAnswer the following questions, assuming the year begins January

1. (a)If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1?

(b)If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased?

(c)If $2,700 of salaries and wages was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2011?

 

(d)If $1,600 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2011?

Answers

Maurice Tutor
(5)
Status NEW Posted 13 Jul 2017 06:07 AM My Price 9.00

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