Question
A partial adjusted trial balance of Nash Company at January 31, 2020, shows the following. NASH COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2020 Debit Credit
A partial adjusted trial balance of Nash Company at January 31, 2020, shows the following.
NASH COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2020 | ||||||
Debit | Credit | |||||
Supplies | $810 | |||||
Prepaid Insurance | 3,060 | |||||
Salaries and Wages Payable | $910 | |||||
Unearned Service Revenue | 860 | |||||
Supplies Expense | 950 | |||||
Insurance Expense | 510 | |||||
Salaries and Wages Expense | 1,910 | |||||
Service Revenue | 2,110 |
Answer the following questions, assuming the year begins January 1.
If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1?
Beginning balance of supplies | $ |
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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?
Total premium | $ |
When was the policy purchased?
The policy was purchased on July 1, 2019August 1, 2019August 31, 2019. |
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If $2,610 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2019?
Beginning balance of salaries and wages payable | $ |
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If $1,710 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2019? Assume that there are no accounts receivable.
Beginning balance of unearned service revenue | $ |
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