E4-13, Analyze adjusted data.

This is a partial adjusted trial balance of Barone Company.

BARONE COMPANY

Adjusted Trial Balance

January 31, 2014

Debit

Credit

Supplies

$700

Prepaid Insurance

1,560

Salaries and Wages Payable

$1,060

Unearned Service Revenue

750

Supplies Expense

950

Insurance Expense

520

Salaries and Wages Expense

1,800

Service Revenue

4,000

Instructions:

Answer these questions, assuming the year begins January 1.

(a) If the amount in Supplies Expense is the January 31 adjusting entry, and

$300

of supplies was purchased in

January, what was the balance in Supplies on January 1?

Supplies balance =

Amount

Computation:

Title

Amount

Add:

Amount

Less:

Amount

Title

Formula

(b) If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased?

Total premium =

Formula

Text as appropriate

Formula

Purchase date =

Date

Enter text here.

(c) If

$2,500

of salaries was paid in January, what was the balance in Salaries and Wages Payable at

December 31, 2013?

Salaries and wages payable =

Computation

Title

Title

Less

Title

(d) If

$1,800

was received in January for services performed in January, what was the balance in Unearned Service

Revenue at December 31, 2013?

Service revenue =

Computation

Title

Title

Less

Title