Financial Analysis Using Adjusted Account Data Selected T-account balances for Bloomfield Company are shown below as of January 31, which reflect its accounting adjustments. The firm uses a calendar-year accounting period, but prepares monthly accounting adjustments.

Supplies
Jan. 31 Bal.	900	216	Jan. 31 Bal.

Supplies Expense
Jan. 31 Bal.	960	216	Jan. 31 Bal.

Prepaid Insurance
Jan. 31 Bal.	574	216	Jan. 31 Bal.

Insurance Expense
Jan. 31 Bal.	82	16	Jan. 31 Bal.

Wages Payable
Jan. 31 Bal.	216	700	Jan. 31 Bal.

Wages Expense
Jan. 31 Bal.	3,200	2016	Jan. 31 Bal.

Truck
Jan. 31 Bal.	8,700	2016	Jan. 31 Bal.

Accumulated Depreciation -Truck
Jan. 31 Bal.	2016	2,610	Jan. 31 Bal.

a. If the amount in supplies expense represents the January 31 adjustment for the supplies used in January, and $620 worth of supplies were purchased during January, what was the January 1 beginning balance of supplies? $Answer

b. The amount in the insurance expense account represents the adjustment made at January 31 for January insurance expense. If the original insurance premium was for one year, what was the amount of the premium, and on what date did the insurance policy start? Amount of the premium $Answer

The policy began on AnswerJune 1July 1August 1September 1October 1November 1 of the previous year.

c. If we assume that no beginning balance existed in either in either wage payable or wage expense on January 1, how much cash was paid as wages during January? $Answer

d. If the truck has a useful life of five years (or 60 months), what is the monthly amount of depreciation expense, and how many months has Bloomfield owned the truck? Answer

months