Reference no: EM132656703
Question - Analyze adjusted trial balance
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
Supplies $2,800
Prepaid Insurance 9,600
Salaries and Wages Payable $3,200
Unearned Revenue 3,000
Supplies Expense 3,800
Insurance Expense 1,600
Salaries and Wages Expense 7,200
Service Revenue 8,000
Required - 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 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 one year, what was the total premium and when was the policy purchased?
(c) If $10,000 of salaries was paid in January, what was the balance in Salaries and Wages. Payable at December 31, 2020?
(d) If $6,400 was received in January for services performed in January, what was the balance in Unearned Revenue at December 31, 2020?