Exercise 3-11

A partial adjusted trial balance of Sila Company at January 31, 2010, shows the following.

SILA COMPANY
Adjusted Trail Balance
January 31, 2010
	Debit	Credit
Supplies	$871
Prepaid Insurance	2,430
Salaries Payable		$781
Unearned Revenue		70
Supplies Expense	924
Insurance Expense	405
Salaries Expense	1,776
Service Revenue		2,004

Instructions

Answer the following questions, assuming the year begins January 1.

(a)	If the amount in Supplies Expense is the January 31 adjusting entry, and $504 of supplies was purchased in January, what was the balance in Supplies on January 1?
	$ 1291
(b)	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?
Total premium $ 4860       Purchase date   Aug.1 2009
(c)	If $3,451 of salaries was paid in January, what was the balance in Salaries Payable at December 31, 2009?
$ 2456
(d)	If $1,577 was received in January for services performed in January, what was the balance in Unearned Revenue at December 31, 2009?
$ 1135FOLLOW THE LINK TO GET THE ANSWER!!