Reference no: EM13864721

A partial adjusted trial balance for Dodgers Co at 9/30/15 shows the following, with each account having a normal balance:

Dodgers Co.

Adjusted Trial Balance

9/30/15

Service Revenue, $4,795,000

Unearned Service Revenue, $102,000

Interest Revenue, $41,000

Interest Receivable, $19,000

Insurance Expense, $28,000

Prepaid Insurance, $504,000

Salaries Expense, $1,292,000

Salaries Payable, $427,000

Supplies Expense, $82,000

Supplies, $61,000

COGS, $764,000

Accounts Payable, $363,000

Inventory, $638,000

Assuming the reporting year begins on September I, answer the following six questions:

1) If $4,182,000 was collected in September for services performed in September and $596,000 was collected in September for services to be performed in October, what was the balance in Unearned Service Revenue at 8/31/15 assuming no services were provided on account?

2) If $38,000 of interest was collected in September, what was the balance in Interest Receivable at 8/31/15?

3) If the amount in Insurance Expense is the September 30 adjusting entry, and the original insurance premium was for 26 months, what was the amount of the total premium and when was the policy purchased (month/day/year)?

4) If $1,408,000 of salaries was paid in September, what was the balance in Salaries Payable at 8/31/15?

5) If the amount in Supplies Expense is the September 30 adjusting entry, and $96,000 of supplies was purchased in September, what was the balance of Supplies at 8/31/15?

6) If $958,000 was paid in September for the purchase of inventory, and $887,000 of inventory was purchased in September, what was the balance of Accounts Payable at 8/31/15 and Inventory at 8/31/15 assuming that Accounts Payable is used exclusively?

 

Use T accounts or journal entries.