Reference no: EM132385599
Question :
Crane Company's fiscal year end is December 31. On January 31, 2017, the company's partial adjusted trial balance shows the following:
CRANE COMPANY
Adjusted Trial Balance (Partial)
January 31, 2017
Debit Credit
Supplies 1830
Prepaid Insurance 1,280
Equipment 7,200
Accumulated Depreciation-Equipment $3,660
Salaries Payable 800
Unearned Revenue 770
Service Revenue 2,120
Depreciation Expense 60
Insurance Expense 320
Salaries Expense 1,800
Supplies Expense 885
If $1,560 was received inJanuary for services performed in January, what was the balance in Unearned Revenue at December 31, 2016?
If the amount in Depreciation Expense is the depreciation for one month, when was the equipment purchased?
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 off the month.)
If the amount in Supplies Expense is the January 31 adjusting entry, and the balance in Supplies on January 1 was $840, what was the amount of supplies purchased in January?
If the balance in Salaries Payable onJanuary 1, 2017, was $1,200, what was the amount of salaries paid in cash during January?
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