The following lists selected accounts and their adjusted balances for Ramon Company on January 31, 2022. Insurance Expen
Posted: Sun Jul 03, 2022 1:23 pm
Company on January 31, 2022. Insurance Expense Prepaid Insurance Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Supplies Expense Unearned Service Revenue (a) $520 1,560 1,800 Supplies balance -1,060 4,000 700 950 Answer these questions, assuming the year begins January 1. 750 If the amount in Supplies Expense is equal to the January 31 adjustment and $300 of supplies were purchased in January, what was the balance in Supplies on January 17
Answer these questions, assuming the year begins January 1 (a) If the amount in Supplies Expense is equal to the January 31 adjustment and $300 of supplies were purchased in January, what was the balance in Supplies on January 17 Supplies balance $ (b) If the amount in Insurance Expense is equal to the January 31 adjustment and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased? 6 Total premium for 1 year Purchase date (c) If $2.500 of salaries were paid in January, what was the balance in Salaries and Wages Payable at December 31, 2021? Balance in Salaries and Wages Payable at December 31, 2021 $ $ A
(b) If the amount in Insurance Expense is equal to the January 31 adjustment and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased? Total premium for 1 year Purchase date (c) S If $2,500 of salaries were paid in January, what was the balance in Salaries and Wages Payable at December 31, 2021? Balance in Salaries and Wages Payable at December 31, 2021 $ (d) If $1,800 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2021? (Assume that Accounts Receivable had a zero balance on January 1) Balance in Unearned Service Revenue at December 31, 2021 $
The following lists selected accounts and their adjusted balances for Ramon Answer these questions, assuming the year begins January 1 (a) If the amount in Supplies Expense is equal to the January 31 adjustment and $300 of supplies were purchased in January, what was the balance in Supplies on January 17 Supplies balance $ (b) If the amount in Insurance Expense is equal to the January 31 adjustment and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased? 6 Total premium for 1 year Purchase date (c) If $2.500 of salaries were paid in January, what was the balance in Salaries and Wages Payable at December 31, 2021? Balance in Salaries and Wages Payable at December 31, 2021 $ $ A
(b) If the amount in Insurance Expense is equal to the January 31 adjustment and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased? Total premium for 1 year Purchase date (c) S If $2,500 of salaries were paid in January, what was the balance in Salaries and Wages Payable at December 31, 2021? Balance in Salaries and Wages Payable at December 31, 2021 $ (d) If $1,800 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2021? (Assume that Accounts Receivable had a zero balance on January 1) Balance in Unearned Service Revenue at December 31, 2021 $