This is a partial adjusted trial balance of Ramon Company

This is a partial adjusted trial balance of Ramon Company.

Analyze adjusted data.

Ramon Company

Adjusted Trial Balance

January 31, 2022

Debit

Credit

Supplies $ 700

Prepaid Insurance1,560

Salaries and Wages Payable$1,060

Unearned Service Revenue750

Supplies Expense950

Insurance Expense520

Salaries and Wages Expense1,800

Service Revenue4,000

Instructions

Answer these questions, assuming the year begins January 1.

a. If the amount in Supplies Expense is the January 31 adjusting entry and $300 of supplies was purchased in January, what was the balance in Supplies on January 1?

b. If the amount in Insurance Expense is the January 31 adjusting entry and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased?

c. If $2,500 of salaries was paid in January, what was the 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?