Question
A partial adjusted trial balance of Wildhorse Co. at January 31, 2019, shows the following. Wildhorse Co. Adjusted Trial Balance January 31, 2019 Debit Credit
A partial adjusted trial balance of Wildhorse Co. at January 31, 2019, shows the following. Wildhorse Co. Adjusted Trial Balance January 31, 2019 Debit Credit Supplies $ 800 Prepaid Insurance 1,800 Salaries and Wages Payable $ 800 Unearned Service Revenue 650 Supplies Expense 800 Insurance Expense 300 Salaries and Wages Expense 2,500 Service Revenue 3,200 Answer the following questions, assuming the year begins January
1. (a) If the amount in Supplies Expense is the January 31 adjusting entry and $1,000 of supplies was purchased in January, what was the balance in Supplies on January 1? Supplies balance $Entry field with incorrect answer now contains modified data
(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 $Entry field with incorrect answer now contains modified data Purchase date Entry field with incorrect answer now contains modified data
(c) If $3,100 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2018? Salaries and wages payable
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