Question: Additional Question 4 (E 3.11) This is a partial adjusted trial balance of Martin Pty Ltd. MARTIN PTY LTD (Extract from) Adjusted Trial Balance as

 Additional Question 4 (E 3.11) This is a partial adjusted trial

Additional Question 4 (E 3.11) This is a partial adjusted trial balance of Martin Pty Ltd. MARTIN PTY LTD (Extract from) Adjusted Trial Balance as at 31 March 201 & Accountname 110 Supplies 112 Prepaid Insurance 212 Salaries Payable 213 Service Revenue Received in Advance 400 Service Revenue 500 Salaries Expense 505 Supplies Expense 515 Insurance Expense Required: Answer these questions, assuming the year begins on 1 March. Debit S 70 O 2 400 1 800 950 400 Credit (a) Ifthe amount in Supplies Expense is the 31 March adjusting entry, and $850 of supplies was purchased in March, what was the balance in Supplies on 1 March? (b) Ifthe amount in Insurance Expense is the March adjusting entry, and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased? (c) If $2500 of salaries was paid in March, what was the balance in Salaries Payable at 1 March 2017? (d) There were no additional amounts of revenue received in advance during March. An amount of 51600 was received in March for services performed in March. What was the amount of Service Revenue Received in Advance at 1 March 2017? (Hint: Reconstruct the T accounts to help answer these questions.)

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