Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a partial adjusted trial balance of crane company

A partial adjusted trial balance of Crane Company at January 31, 2020, shows the following....

50.1K

Verified Solution

Question

Accounting

image

A partial adjusted trial balance of Crane Company at January 31, 2020, shows the following. Credit CRANL COMPANY Adjusted Trial Balance January 31, 2020 Dabit Supplies $ 900 Prepaid Insurance 1,800 Salaries and Wages Payable Unearned Service Revenue Supplies Expense 900 Insurance Expense 300 Salaries and Wages Expense 2,600 Service Revenue $ 700 750 -3,400 Answer the following questions, assuming the year begins January 1 (a) If the amount in Supplies Expense is the January 31 adjusting entry and $1,000 of supplies was purchased in January, what was the balance in Supplies on January 1? Supplies balance $ (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) | $3,000 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2019? Salaries and wages payable $ e Textbook and Media Save for Liter Attempts: 0 of 3 used Submit

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students