Selected T accounts for Trewhella Traders are shown below. Adjusting entries for the period have been posted.

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Selected T accounts for Trewhella Traders are shown below. Adjusting entries for the period have been posted.

Insurance Expense Prepaid Insurance 700 1 020 30/6 Bal. 30/6 Adj. ent. Supplies Expense Supplies 30/6 Bal. 400 30/6 Adj.


Required

A. Supplies of $390 were purchased during the year. Calculate the 1 July balance in the Supplies account.

B. No balance existed in the Unearned Rental Revenue account on 1 July. Calculate the total amount of rental fees that were received in cash during the period.

C. The balance in the Prepaid Insurance account on 1 July was $910. Calculate the total cash payment made during the year for insurance premiums.

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Related Book For  answer-question

Accounting

ISBN: 978-1118608227

9th edition

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

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