This is a partial adjusted trial balance of Darcy Designs Pty Ltd. 

Required

Answer these questions, assuming the year begins on 1 July:

(a) If the amount in Supplies Expense is the 31 July adjusting entry, and $1320 of supplies was purchased in July, what was the balance in Supplies on 1 July?

(b) If the amount in Insurance Expense is the July adjusting entry, and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased?

(c) If $7500 of salaries was paid in July, what was the balance in Salaries Payable at 30 June 2016?  

(d) There were no additional amounts of revenue received in advance during July. An amount of $2400 was received for services performed in July. What was the amount of Service Revenue Received in Advance at 1 July 2016/30 June 2016?

Transcribed Image Text:

No. Account name 110 Supplies 112 Prepaid Insurance 212 Salaries Payable 213 DARCY DESIGNS PTY LTD Adjusted trial balance (partial) as at 31 July 2016 Service Revenue Received in Advance 400 Service Revenue 500 Salaries Expense 505 Supplies Expense 515 Insurance Expense Debit $1500 2 400 7300 1220 800 Credit $1500 1125 3 000