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Thank you This is a partial adjusted trial balance of Sheridan Company. SHERIDAN COMPANY Adjusted Trial Balance January 31, 2022 Debit Credit Supplies $ 860
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This is a partial adjusted trial balance of Sheridan Company. SHERIDAN COMPANY Adjusted Trial Balance January 31, 2022 Debit Credit Supplies $ 860 Prepaid Insurance 1,590 Salaries and Wages Payable $ 1,070 Unearned Service Revenue 710 Supplies Expense 810 Insurance Expense 530 Salaries and Wages Expense 1,900 Service Revenue 2,280 Answer these questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry and $ 250 of supplies was purchased in January, what was the balance in Supplies on January 1? Supplies balance $ 200 (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? Total premium for 1 year $ 2120 Purchase date (c) If $ 2,270 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2021? Balance in Salaries and Wages Payable at December 31, 2021 $ (d) If $ 1,800 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2021? Balance in Unearned Service Revenue at December 31, 2021 $Step by Step Solution
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