ACC 301 PS 2017 (Protected View) - Word Sign in File Home Insert Design Layout References Mailings Review View Tell me what you want to do Share Chipper Tree Service, Inc., located in St. Louis, Missouri, operates a complete tree service business. The fiscal year begins on May 1t. The dollar amounts presented below are taken from the adjusted trial balance as of May 31, 2017 Insurance Expense, $400 debit Prepaid Insurance, $2,400 debit Salaries and Wages Expense, $1,800 debit Salaries and Wages Payable, $800 credit Service Revenue, $2,000 credit Supplies, $700, debit Supplies Expense, $950 debit Unearned Service Revenue, $750 credit Compute the requirements below 1. If $1,500 was received in May for services performed in May, what was the balance (dollar amount and DR/CR) in the Unearned Service Revenue account at April 30, 2017? 2. If $2,700 of salaries was paid in May, what was the balance (dollar amount and DR/CR) in the Salaries and Wages Payable account at April 30, 2017? 3. If the amount in the account Insurance Expense is the May 31, 2017, adjusting entry, and the original insurance premium was for one year (12 months), what was the total premium (in dollars) and when was the policy purchased (e.g., April 1, 2017)? 4. If the amount in the account Supplies Expense is the May 31, 2017, adjusting entry, and $650 of supplies was purchased in May, what was the balance (dollar amount and DR/CR) in the account Supplies on May 1, 2017? Directions: For requirements 1. Through 4., be sure to include all supporting computations in good form, and to clearly indicate the answers. Page 1 of 2 321 words - + 100%