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Analysis of Adjusted Data Selected T-account balances for Coyle Company are shown below as of January 31; adjusting entries have already been posted. The firm uses a calendar-year accounting period and makes monthly adjustments. Supplies Bal 800 Supplies Expense Bal 960 Prepaid Insurance Bal 738 Insurance Expense Bal 82 Wages Payable 500 Bal Wages Expense Bal 3,200 Truck Bal 10,620 Accumulated Depreciation - Truck 5,487 Bal a. If the amount in Supplies Expense represents the January 31 adjustment for the supplies used in January, and $620 worth of supplies were purchased during January, what was the January 1 balance of Supplies? $Answer 0 b. The amount in the Insurance Expense account represents the adjustment made at January 31 for January insurance expense. If the original insurance premium was for one year, what was the amount of the premium and on what date did the insurance policy start? $Answer 0 Total premium Answer June 1 Policy start date c. If we assume that no balance existed in Wages Payable or Wages Expense on January 1, how much cash was paid as wages during January? $Answer 2,700 d. If the truck has a useful life of five years, what is the monthly amount of depreciation expense and how many months has Coyle owned the truck? $Answer monthly depreciation Answer months owned the truck

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