Question
A partial adjusted trial balance of Sandhill Company at January 31, 2017, shows the following. SANDHILL COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2017 Debit Credit
A partial adjusted trial balance of Sandhill Company at January 31, 2017, shows the following.
SANDHILL COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2017 | ||||||
Debit | Credit | |||||
Supplies | $ 1,010 | |||||
Prepaid Insurance | 4,260 | |||||
Salaries and Wages Payable | $ 1,110 | |||||
Unearned Service Revenue | 1,060 | |||||
Supplies Expense | 950 | |||||
Insurance Expense | 710 | |||||
Salaries and Wages Expense | 2,110 | |||||
Service Revenue | 2,310 |
Answer the following questions, assuming the year begins January 1.
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 ________ |
Choose either: July 1, 2016, August 1, 2016, August 31, 2016
If $ 2,810 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 | $ |
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