This is a partial adjusted trial balance of Ramon Company. 

Instructions 

Answer these questions, assuming the year begins January 1. 

a. If the amount in Supplies Expense is the January 31 adjusting entry and $300 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 $2,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2021? 

d. If $1,800 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2021?

Transcribed Image Text:

Ramon Company Adjusted Trial Balance January 31, 2022 Debit Credit $ 700 Supplies Prepaid Insurance Salaries and Wages Payable 1,560 $1,060 Unearned Service Revenue 750 Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue 950 520 1,800 4,000