Sheridan Companys fiscal year end is December 31. On January 31, 2021, the companys partial...
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Accounting
Sheridan Companys fiscal year end is December 31. On January 31, 2021, the companys partial adjusted trial balance shows the following:
SHERIDAN COMPANYAdjusted Trial Balance (Partial) January 31, 2021
Debit
Credit
Supplies
$ 660
Prepaid Insurance
1,440
Equipment
6,000
Accumulated DepreciationEquipment
$ 3,050
Salaries Payable
880
Unearned Revenue
790
Service Revenue
2,100
Depreciation Expense
50
Insurance Expense
360
Salaries Expense
1,700
Supplies Expense
915
If $ 1,450 was received in January for services performed in January, what was the balance in Unearned Revenue at December 31, 2020?
Unearned revenue
$ enter Unearned revenue in dollars
If the amount in Depreciation Expense is the depreciation for one month, when was the equipment purchased?
Purchase date
select a Purchase date Dec. 1, 2015Jan. 1, 2016Jan. 31, 2016
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 of the month.)
Total premium
$ enter the Total premium in dollars
Purchase date
select a Purchase date May 1, 2020June 1, 2020July 1, 2020
If the amount in Supplies Expense is the January 31 adjusting entry, and the balance in Supplies on January 1 was $ 800, what was the amount of supplies purchased in January?
Supplies purchased
$ enter a dollar amount of Supplies purchased
If the balance in Salaries Payable on January 1, 2021, was $ 1,250, what was the amount of salaries paid in cash during January?
Salaries paid
$ enter a dollar amount of Salaries paid
Answer & Explanation
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