Trenton Company?s fiscal year end is December 31. On January 31, 2021, the company?s partial adjusted trial balance shows the following:

Instructions

a. If $1,600 was received in January for services performed in January, what was the balance in Unearned Revenue at December 31, 2020?

b. If the amount in Depreciation Expense is the depreciation for one month, when was the equipment purchased?

c. 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? Assume the policy was purchased on the first day of the month.

d. If the amount in Supplies Expense is the January 31 adjusting entry, and the balance in Supplies on January 1 was $800, what was the amount of supplies purchased in January?

e. If the balance in Salaries Payable on January 1, 2021, was $1,200, what was the amount of salaries paid in cash during January?

Transcribed Image Text:

TRENTON COMPANY Adjusted Trial Balance (Partial) January 31, 2021 Debit Credit $ 700 Supplies Prepaid insurance Equipment Accumulated depreciation-equipment Salaries payable 1,600 7,200 $3,660 800 Unearned revenue 750 Service revenue 2,000 Depreciation expense Insurance expense Salaries expense Supplies expense 60 400 1,800 950