A partial adjusted trial balance of Crane Company at January 31, 2020, shows the following. CRANE...
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A partial adjusted trial balance of Crane Company at January 31, 2020, shows the following. CRANE COMPANY Adjusted Trial Balance January 31, 2020 Supplies Prepaid Insurance Salaries and Wages Payable Unearned Service Revenue Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue Supplies balance $ Total premium Purchase date Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 the balance in Supplies on January 1? $ Debit $ 900 1,800 Salaries and wages payable $ 900 300 2,600 (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? eTextbook and Media Save for Later Credit $700 750 -3,400 (c) If $3,000 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2019? entry and $1,000 of supplies was purchased in January, what was Attempts: 0 of 3 used Submit Answer A partial adjusted trial balance of Crane Company at January 31, 2020, shows the following. CRANE COMPANY Adjusted Trial Balance January 31, 2020 Supplies Prepaid Insurance Salaries and Wages Payable Unearned Service Revenue Supplies Expense Insurance Expense Salaries and Wages Expense Service Revenue Supplies balance $ Total premium Purchase date Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 the balance in Supplies on January 1? $ Debit $ 900 1,800 Salaries and wages payable $ 900 300 2,600 (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? eTextbook and Media Save for Later Credit $700 750 -3,400 (c) If $3,000 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2019? entry and $1,000 of supplies was purchased in January, what was Attempts: 0 of 3 used Submit Answer
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Solution a The Balance in Supplies on January 1 900 900 1000 bThe total premium ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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