Please help solve this problem This is all the information I Have Analyzing an...
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Accounting
Please help solve this problem
This is all the information I Have
Analyzing an Adjusted Trial Balance Below is an adjusted trial balance (partial) for Lazer Tag Inc. as of December 31. Additional information a. During the year, a corporate client paid a 12 -month event fee of $73,920 cash for one planned event per month at Lazer Tag to be applied over 12 months. b. Supplies available on December 31 of last year were $16,800. c. A two-year insurance policy was purchased on September 1. The policy was paid in full on September 1. Premiums had increased from the prior policy. Answer the following questions. 1. If interest expense relates to six months of interest expense on a 10% note payable, what is the amount of the note payable? 2. What was the adjusting journal entry to accrue unpaid, but incurred salaries, on December 31? 3. How many months remain in the 12-month corporate client contract? months 4. What amount of supplies was purchased during the year? 5. What was the price of the two-year insurance policy signed on September 1 ? $ 6. By how much did the current policy's monthly premium increase over the prior policy's monthly premium? $
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