Question
A partial adjusted trial balance of Crane Company at January 31, 2020, shows the following. CRANE COMPANY Adjusted Trial Balance January 31, 2020 Debit Credit
A partial adjusted trial balance of Crane Company at January 31, 2020, shows the following.
CRANE COMPANY Adjusted Trial Balance January 31, 2020 | ||||
---|---|---|---|---|
Debit | Credit | |||
Supplies | $ 800 | |||
Prepaid Insurance | 1,800 | |||
Salaries and Wages Payable | $ 900 | |||
Unearned Service Revenue | 850 | |||
Supplies Expense | 800 | |||
Insurance Expense | 300 | |||
Salaries and Wages Expense | 3,200 | |||
Service Revenue | 3,400 |
Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry and $ 1,200 of supplies was purchased in January, what was the balance in Supplies on January 1?
Supplies balance | $ enter a Supplies balance in dollars |
(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?
Total premium | $ enter a dollar amount | |
---|---|---|
Purchase date | select a purchase date Jan. 31, 2018Jan. 31, 2017July 31, 2017Dec. 31, 2017Aug. 1, 2019Sep. 30, 2017 |
(c) If $ 3,700 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2019?
Salaries and wages payable | $ enter a balance in Salaries and wages payable in dollars |
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