AE3-11 - $ (b) If the amount in Insurance Expense is the...

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AE3-11
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A partial adjusted trial balance of Sila Company at January 31, 2010, shows the following. SILA COMPANY Adjusted Trail Balance January 31, 2010 Debit Credit Supplies $854 Prepaid Insurance 2,508 Salaries Payable $776 Unearned Revenue 727 Supplies Expense 940 Insurance Expense 418 Salaries Expense 1,803 Service Revenue 1,958 Instructions Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $533 of supplies was purchased in January, what was the balance in Supplies on January 1?
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Unformatted text preview: $ (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? Total premium $ Purchase date (c) If $3,465 of salaries was paid in January, what was the balance in Salaries Payable at December 31, 2009? $ (d) If $1,577 was received in January for services performed in January, what was the balance in Unearned Revenue at December 31, 2009? $ Click here if you would like to Show Work for this question...
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This note was uploaded on 05/13/2010 for the course ACCT 510 taught by Professor Turner during the Summer '10 term at École Normale Supérieure.

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AE3-11 - $ (b) If the amount in Insurance Expense is the...

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