A partial adjusted trial balance of Safin Company at January 31, 2012, shows the following. InstructionsAnswer 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
A partial adjusted trial balance of Safin Company at January 31, 2012, shows the following.

InstructionsAnswer 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 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 $2,700 of salaries and wages was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2011?(d) If $1,600 was received in January for services performed in January, what was the balance inUnearned Service Revenue at December 31,2011?
SAFIN COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2012 Debit Credit Supplies Prepaid Insurance Salarles and Wages Payable Unearned Revenue Supplies Expense Insurance Expense Salaries and Wages Expense $ 900 2,400 $ 800 750 950 400 1,800 2,000 Service Revenue
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a Ending balance of supplies 900 Add Adjusting entry 950 Deduct Purchases 850 Beginning bal…View the full answer

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