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How do I work on this? Please leave the solution. SPEEDY CARPET CLEANERS PTY LTD Adjusted trial balance as at 31 July 2016 Debit Credit
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SPEEDY CARPET CLEANERS PTY LTD Adjusted trial balance as at 31 July 2016 Debit Credit Supplies Prepaid insurance Salaries payable Unearned service revenue Service revenue Salaries expense Supplies expense Insurance expense $1,050 3,600 $1,200 1,125 3,000 2,700 1,425 600 Answer these questions, assuming the year begins 1 July (Hint: Reconstruct the T accounts to help answer the questions below.) (a) If the amount in Supplies expense is the 31 July adjusting entry, and $1,275 of supplies was purchased in July, what was the balance in Supplies on 1 July? 2700 (b) If the amount in Insurance expense is the 31 July adjusting entry, and the original insurance premium was for 1 year, what was the total premium? 7200 1 April 2015 What was the purchase date? (c) If $3,750 of salaries was paid in July, what was the balance in Salaries payable at 30 June 2016? 3900Step by Step Solution
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