Question
E3-11 - Analyze adjusted data. E3-11 - Analyze adjusted data. A partial adjusted trial balance of Frangesch Company at January 31, 2017, shows the following.
E3-11 - Analyze adjusted data. E3-11 - Analyze adjusted data. A partial adjusted trial balance of Frangesch Company at January 31, 2017, shows the following. A partial adjusted trial balance of Frangesch Company at January 31, 2017, shows the following. FRANGESCH COMPANY FRANGESCH COMPANY Adjusted Trial Balance Adjusted Trial Balance January 31, 2017 January 31, 2018 Debit Credit Debit Credit Supplies $850 Supplies $850 Prepaid Insurance $2,400 Prepaid Insurance $2,400 Salaries and Wages Payable $920 Salaries and Wages Payable $920 Unearned Service Revenue $750 Unearned Service Revenue $750 Supplies Expense $950 Supplies Expense $950 Insurance Expense $400 Insurance Expense $400 Salaries and Wages Expense $2,900 Salaries and Wages Expense $2,900 Service Revenue $2,000 Service Revenue $2,000 Instructions: Instructions: Answer the following questions, assuming the year begins January 1. 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 (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? balance in Supplies on January 1? (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 (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 and when was the policy purchased? (c) If $3,800 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2016? (c) If $3,800 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2016? NOTE:Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" . NOTE:Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .
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