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A partial adjusted trial balance of Marigold Company at January 31, 2017, shows the following.
A partial adjusted trial balance of Marigold Company at January 31, 2017, shows the following.
MARIGOLD COMPANY
ADJUSTED TRIAL BALANCE
JANUARY 31, 2017
Debit
Credit
Supplies$1,010Prepaid Insurance4,260Salaries and Wages Payable$1,110Unearned Service Revenue1,060Supplies Expense950Insurance Expense710Salaries and Wages Expense2,110Service Revenue2,310
Answer the following questions, assuming the year begins January 1.
If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1?
Beginning balance of supplies$
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?
Total premium$
When was the policy purchased?
The policy was purchased on
July 1, 2016
August 1, 2016
August 31, 2016
.
If $2,810 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2016?
Beginning balance of salaries and wages payable$
If $1,910 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2016? Assume that there are no accounts receivable.
Beginning balance of unearned service revenue is what?
