Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A partial adjusted trial balance of Oriole Company at January 31, 2017, shows the following ORIOLE COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2017 Debit Credit
A partial adjusted trial balance of Oriole Company at January 31, 2017, shows the following ORIOLE COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2017 Debit Credit Supplies $800 Prepaid Insurance 3,000 Salaries and Wages Payable $900 Unearned Service Revenue 850 Supplies Expense 950 Insurance Expense 500 Salaries and Wages Expense 1,900 Service Revenue 2,100 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 $ 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 If $2,600 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2016? Beginning balance of salaries and wages payable $ If $1,700 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2016? Assume that there are no accounts receivable Beginning balance of unearned service revenue
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started