A partial adjusted trial balance of Rooney Company Ltd. at January 31, 2017, 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 £710 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 1 year, what was the total premium and when was the policy purchased?
(c) If £3,100 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2016?

Transcribed Image Text:

ROONEY COMPANY LTD Adjusted Trial Balance January 31, 2017 Debit £ 850 2,400 Credit Supplies Prepaid Insurance Salaries and Wages Payable Unearned Service Revenue Supplies Expense Insurance Expense Salaries and Wages Expense ServiRevem> £ 800 750 950 400 2,500 2,000