Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

11 April bestriale e pa.2017. de HOONEY COMPANY ETHI Adjied bal helance Janary 11, 2017 Debi Gralar Supplies ASU Prepaid War Pusable RO Uwe Sex

image text in transcribed
image text in transcribed
11 April bestriale e pa.2017. de HOONEY COMPANY ETHI Adjied bal helance Janary 11, 2017 Debi Gralar Supplies ASU Prepaid War Pusable RO Uwe Sex Supplier 30 Ince 100 Wapes Service 2.000 Istre www foto ngene, ming to your dem Spis the line canal 710 elep w podana what was the balance is supplies in imilem per la they want the final wala hawathulam and when the liput 144 Adjusting the Accounts 100 lunes a pain where the hulumar Salaries and Wir Pay i I live view 1, 32, E3-11 A partial adjusted trial balance of Rooney Company Ltd. at January 31, 2017, shows Analyze adjusted data. the following (LO 4, 5, 6, 7) ROONEY COMPANY LTD. Adjusted Trial Balance January 31, 2017 Debit Credit Supplies 850 Prepaid Insurance 2,400 Salaries and Wages Payable 800 Unearned Service Revenue 750 Supplies Expense 950 Insurance Expense 400 Salaries and Wages Expense 2,500 Service Revenue 2,000 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 sup- plies 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? 144 3 Adjusting the Accounts (C) If 3,100 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2016

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Core Concepts Of Accounting Information Systems

Authors: Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman

11th Edition

9780470507025, 0470507020

More Books

Students also viewed these Accounting questions