FENSKE COMPANY Adjusted Trial Balance January 31, 2012 Debit Credit Supplies $ 700 Prepaid Insurance 1,560 Salaries and Wages Payable $1,060 Unearned Service Revenue 750 Supplies Expense 950 Insurance Expense 520 Salaries and Wages Expense 1,800 Service Revenue 2,000 Instructions Answer these questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $300 of supplies was purchased in January, what was the 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 1 year, what was the total premium and when was the policy purchased? (c) If $2,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2011? (d) If $1,800 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2011? E4-14 A partial adjusted trial balance for Fenske Company is given in E4-13. Instructions Prepare the closing entries at January 31, 2012