Sheridan Companys fiscal year end is December 31. On January 31, 2021, the companys partial...
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Accounting
Sheridan Companys fiscal year end is December 31. On January 31, 2021, the companys partial adjusted trial balance shows the following:
SHERIDAN COMPANY Adjusted Trial Balance (Partial) January 31, 2021 | ||
---|---|---|
Debit | Credit | |
Supplies | $ 660 | |
Prepaid Insurance | 1,440 | |
Equipment | 6,000 | |
Accumulated DepreciationEquipment | $ 3,050 | |
Salaries Payable | 880 | |
Unearned Revenue | 790 | |
Service Revenue | 2,100 | |
Depreciation Expense | 50 | |
Insurance Expense | 360 | |
Salaries Expense | 1,700 | |
Supplies Expense | 915 |
If $ 1,450 was received in January for services performed in January, what was the balance in Unearned Revenue at December 31, 2020?
Unearned revenue | $ enter Unearned revenue in dollars |
If the amount in Depreciation Expense is the depreciation for one month, when was the equipment purchased?
Purchase date | select a Purchase date Dec. 1, 2015Jan. 1, 2016Jan. 31, 2016 |
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? (Hint: Assume the policy was purchased on the first day of the month.)
Total premium | $ enter the Total premium in dollars | |
Purchase date | select a Purchase date May 1, 2020June 1, 2020July 1, 2020 |
If the amount in Supplies Expense is the January 31 adjusting entry, and the balance in Supplies on January 1 was $ 800, what was the amount of supplies purchased in January?
Supplies purchased | $ enter a dollar amount of Supplies purchased |
If the balance in Salaries Payable on January 1, 2021, was $ 1,250, what was the amount of salaries paid in cash during January?
Salaries paid | $ enter a dollar amount of Salaries paid |
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