Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A partial adjusted trial balance of Oriole Company at January 31, 2021, shows the following. Credit ORIOLE COMPANY Adjusted Trial Balance January 31, 2021 Debit

image text in transcribedimage text in transcribed

A partial adjusted trial balance of Oriole Company at January 31, 2021, shows the following. Credit ORIOLE COMPANY Adjusted Trial Balance January 31, 2021 Debit Supplies $2.100 Prepaid Insurance 9,300 Salaries and Wages Payable Unearned Revenue Supplies Expense 4,100 Insurance Expense 1,550 Salaries and Wages Expense 8,200 Service Revenue $4,300 2.800 8,900 Answer the following questions, assuming the year begins January 1. If the amount in Supplies Expense is the January 31 adjusting entry, and $4,100 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 and when was the policy purchased? Total premium $ The policy was purchased on eTextbook and Media If $11,000 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2020? Beginning balance of salaries and wages payable $ eTextbook and Media If $6,200 was received in January for services performed in January, what was the balance in Unearned Revenue at December 31, 2020? Beginning unearned revenue December 31, 2020 $ e Textbook and Media

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

International Fraud Handbook

Authors: Joseph T. Wells

1st Edition

1118728505, 9781118728505

More Books

Students also viewed these Accounting questions