Analyzing Accounts Using Adjusted Data Selected T-account balances for Fields Company are shown below as of January 31; adjusting entries have already been posted. The firm uses a calendar-year accounting period but prepares monthly adjustments.

Supplies (A)
Jan.31 Bal	1,600

Supplies Expense (E)
Jan.31 Bal	1,920

Prepaid Insurance (A)
Jan.31 Bal	1,148

Insurance Expense (E)
Jan.31 Bal	164

Wages Payable (L)
		1,000	Jan.31 Bal

Wages Expense (E)
Jan.31 Bal	6,400

Truck (A)
Jan.31 Bal	17,400

Accumulated Depreciation-Truck (XA)
		5,220	Jan.31 Bal

(a) If the amount in Supplies Expense represents the January 31 adjustment for the supplies used in January, and $1,240 worth of supplies were purchased during January, what was the January 1 beginning balance of Supplies? $Answer (b) The amount in the Insurance Expense account represents the adjustment made at January 31 for January insurance expense. If the original insurance premium was for one year, what was the amount of the premium? $Answer What date of the prior year did the insurance policy start? AnswerMay 1June 1July 1August 1September 1October 1November 1 (c) If we assume that no beginning balance existed in Wages Payable or Wages Expense on January 1, how much cash was paid as wages during January? $Answer (d) If the truck has a useful life of five years, what is the monthly amount of depreciation expense? $Answer How many months has Fields owned the truck? Answer months