ilovelg20050130
Sep 23, 2008, 12:16 PM
SILA COMPANY
Adjusted Trail Balance
January 31, 2008
Debit Credit
Supplies $860
Prepaid Insurance 2,430
Salaries Payable $796
Unearned Revenue 741
Supplies Expense 949
Insurance Expense 385
Salaries Expense 1,766
Service Revenue 2,094
a. 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?
b.If $3,697 of salaries was paid in January, what was the balance in Salaries Payable at December 31, 2007?
Adjusted Trail Balance
January 31, 2008
Debit Credit
Supplies $860
Prepaid Insurance 2,430
Salaries Payable $796
Unearned Revenue 741
Supplies Expense 949
Insurance Expense 385
Salaries Expense 1,766
Service Revenue 2,094
a. 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?
b.If $3,697 of salaries was paid in January, what was the balance in Salaries Payable at December 31, 2007?