Question
A partial adjusted trial balance of Wildhorse Co. at January 31, 2020, shows the following. Wildhorse Co. Adjusted Trial Balance January 31, 2020 Debit Credit
A partial adjusted trial balance of Wildhorse Co. at January 31, 2020, shows the following.
Wildhorse Co.
Adjusted Trial Balance
January 31, 2020
Debit
Credit
Supplies$800Prepaid Insurance1,800Salaries and Wages Payable$800Unearned Service Revenue650Supplies Expense800Insurance Expense300Salaries and Wages Expense2,500Service Revenue3,200
Answer the following questions, assuming the year begins January 1.
(a)
If the amount in Supplies Expense is the January 31 adjusting entry and $1,000of supplies was purchased in January, what was the balance in Supplies on January 1?
Supplies balance$
(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$
Purchase date
July 31, 2019
Aug. 1, 2019
Jan. 31, 2020
Sep. 30, 2019
Jan. 31, 2019
Dec. 31, 2019
(c)
If $3,100of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2019?
Salaries and wages payable$
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