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Exercise 3-07 A partial adjusted trial balance of Marigold Company at January 31, 2020, shows the following. Credit MARIGOLD COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2020 Debit Supplies $830 Prepaid Insurance 3,180 Salaries and Wages Payable Unearned Service Revenue Supplies Expense 950 Insurance Expense 530 Salaries and Wages Expense 1,930 Service Revenue $930 880 2,130 Answer the following questions, assuming the year begins January 1. If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of...
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E3-7 A partial adjusted trial balance of Piper Company at January 31, 2020, shows the following. PIPER COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2020 Credit Debit $ 700 Supplies Prepaid Insurance 2,400 Salaries and Wages Payable $ 800 750 Unearned Service Revenue Supplies Expense Insurance Expense 950 400 Service Revenue 2,000 Instructions Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was...
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A partial adjusted trial balance of Sheffield Corp. at January 31, 2019, shows the following. Sheffield Corp. Adjusted Trial Balance January 31, 2019 Debit $ 900 2,400 $ 800 850 Supplies Prepaid Insurance Salaries and Wages Payable Unearned Service Revenue Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue 900 400 3,000 2,000 Answer the following questions, assuming the year begins January 1. If the amount in Supplies Expense is the January 31 adjusting entry and $1,200 of supplies...
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A partial adjusted trial balance of West Company at January 31, 2021. shows the following. WEST COMPANY Adjusted Trial Balance January 31, 2021 Debit Credit $2,800 9,600 Supplies Prepaid Insurance Salaries and Wages Payable Unearned Revenue Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue $3.200 3.000 3,800 1.600 7.200 8.000 Answer the following questions, assuming the year begins January 1. ✓ Your answer is correct. If the amount in Supplies Expense is the January 31 adjusting entry, and...
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Exercise 3-11 A partial adjusted trial balance of Bramble Corp. at January 31, 2019, shows the following Bramble Corp. Adjusted Trial Balance January 31, 2019 Debit Credit Supplies Prepaid Insurance Salaries and Wages Payable Unearned Service Revenue Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue $900 3,000 $ 700 750 800 500 3,000 2,200 Answer the following questlons, assuming the year begins January 1 If the amount in Supplies Expense is the January 31 adjusting entry and $1,100...
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A partial adjusted trial balance of Joy Ltd at Jan 31, 2014,
shows the following:
Joy Ltd.
Adjusted Trial Balance
31-Jan-14
Debit
Credit
Supplies
600
Prepaid insurance
2,400
Salaries and wages payable
800
Unearned revenue
1,000
Service revenue
3,000
Supplies expense
950
Insurance expense
2,400
Salaries and wages expense
1,800
Required:
Answer the following questions, assuming the company’s fiscal
year beings January 1:
If the amount in Supplies Expense is the January 31 adjusting
entry, and $650 of supplies was...
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2. The partial adjusted trial balance of
Starlight Company at January 31, 2018, shows the following.
STARLIGHT COMPANY
Adjusted Trial Balance
January 31, 2018
Debit
Credit
Supplies...............................................................................................
$ 1,800
Prepaid
Insurance................................................................................
5,250
Salaries and Wages
Payable..................................................................
$1,675
Accounts
Receivable............................................................................
3,200
Supplies
Expense.................................................................................
6,500
Insurance
Expense...............................................................................
750
Salaries and Wages
Expense.................................................................
8,900
Service
Revenue..................................................................................
13,000
Instructions
Answer the following questions, assuming the year begins January
1.
If the amount in Supplies...
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2. Eastline Inc. at January 31, 2019, shows the following Eastline Inc Adjusted Trial Balance Partial) January 31, 2019 Credit Debit Supplies S 2,800 Prepaid Insurance 9.600 Salaries and Wages Payable Uneamed Revenue Supplies Expense 3.800 Insurance Expense Salaries and Wages Expense 7,200 Service Revenue $3,200 3,000 8,000 Instructions (20 pts) Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $3,400 of supplies was purchased...
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1. if the amount in supplies expense is the January 31
adjusting entry and $1100 of supplies was purchased in January.
what was the balance in supplies on January 1?
2. 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 premuim and when was the policy purchased
?
3. if $3200 of salaries was paid in January, what was
the balance in salaries and...
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Exercise 4-7 Swifty Company had the following adjusted trial balance. Swifty Company Adjusted Trial Balance For the Month Ended June 30, 2019 Adjusted Trial Balance Account Titles Debit Credit Cash $3,790 Accounts Receivable 3,760 Supplies 460 Accounts Payable $1,700 Unearned Service 180 Revenue Common Stock 1,990 Retained Earnings 2,500 Dividends Service Revenue 5,300 Salaries and Wages 1,300 Expense Miscellaneous Expense 360 Supplies Expense 1,900 Salaries and Wages 700 Payable 800 $12,370 $12,370 Prepare closing entries at June 30, 2019. (Credit...
Exercise 3-07 A partial adjusted trial balance of Marigold Company at January 31, 2020, shows the following. Credit MARIGOLD COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2020 Debit Supplies $830 Prepaid Insurance 3,180 Salaries and Wages Payable Unearned Service Revenue Supplies Expense 950 Insurance Expense 530 Salaries and Wages Expense 1,930 Service Revenue $930 880 2,130 Answer the following questions, assuming the year begins January 1. If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of...
E3-7 A partial adjusted trial balance of Piper Company at January 31, 2020, shows the following. PIPER COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2020 Credit Debit $ 700 Supplies Prepaid Insurance 2,400 Salaries and Wages Payable $ 800 750 Unearned Service Revenue Supplies Expense Insurance Expense 950 400 Service Revenue 2,000 Instructions Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was...
A partial adjusted trial balance of Sheffield Corp. at January 31, 2019, shows the following. Sheffield Corp. Adjusted Trial Balance January 31, 2019 Debit $ 900 2,400 $ 800 850 Supplies Prepaid Insurance Salaries and Wages Payable Unearned Service Revenue Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue 900 400 3,000 2,000 Answer the following questions, assuming the year begins January 1. If the amount in Supplies Expense is the January 31 adjusting entry and $1,200 of supplies...
A partial adjusted trial balance of West Company at January 31, 2021. shows the following. WEST COMPANY Adjusted Trial Balance January 31, 2021 Debit Credit $2,800 9,600 Supplies Prepaid Insurance Salaries and Wages Payable Unearned Revenue Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue $3.200 3.000 3,800 1.600 7.200 8.000 Answer the following questions, assuming the year begins January 1. ✓ Your answer is correct. If the amount in Supplies Expense is the January 31 adjusting entry, and...
Exercise 3-11 A partial adjusted trial balance of Bramble Corp. at January 31, 2019, shows the following Bramble Corp. Adjusted Trial Balance January 31, 2019 Debit Credit Supplies Prepaid Insurance Salaries and Wages Payable Unearned Service Revenue Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue $900 3,000 $ 700 750 800 500 3,000 2,200 Answer the following questlons, assuming the year begins January 1 If the amount in Supplies Expense is the January 31 adjusting entry and $1,100...
2. Eastline Inc. at January 31, 2019, shows the following Eastline Inc Adjusted Trial Balance Partial) January 31, 2019 Credit Debit Supplies S 2,800 Prepaid Insurance 9.600 Salaries and Wages Payable Uneamed Revenue Supplies Expense 3.800 Insurance Expense Salaries and Wages Expense 7,200 Service Revenue $3,200 3,000 8,000 Instructions (20 pts) Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $3,400 of supplies was purchased...
1. if the amount in supplies expense is the January 31
adjusting entry and $1100 of supplies was purchased in January.
what was the balance in supplies on January 1?
2. 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 premuim and when was the policy purchased
?
3. if $3200 of salaries was paid in January, what was
the balance in salaries and...
Exercise 4-7 Swifty Company had the following adjusted trial balance. Swifty Company Adjusted Trial Balance For the Month Ended June 30, 2019 Adjusted Trial Balance Account Titles Debit Credit Cash $3,790 Accounts Receivable 3,760 Supplies 460 Accounts Payable $1,700 Unearned Service 180 Revenue Common Stock 1,990 Retained Earnings 2,500 Dividends Service Revenue 5,300 Salaries and Wages 1,300 Expense Miscellaneous Expense 360 Supplies Expense 1,900 Salaries and Wages 700 Payable 800 $12,370 $12,370 Prepare closing entries at June 30, 2019. (Credit...