A partial adjusted trial balance of Coy Company at January 31, 2014, shows the following.

Instructions
Answer the following questions, assuming the year begins January 1.
(a) If the amount in Supplies Expense is the January 31 adjusting entry, and $1,360 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 $4,000 of salaries was paid in January, what was the balance in Salaries Payable at December 31, 2013?
(d) If $2,560 was received in January for services performed in January, what was the balance in Unearned Revenue at December 31,2013?

Transcribed Image Text:

COY COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2014 Debit Credit $1,120 3,840 Supplies Prepaid Insurance Salaries and Wages Payable Unearned Revenue Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue $1,280 1,200 1,520 640 2,880 3,200