E3-7B (Analyze Adjusted Data) A partial adjusted trial balance of Coy Company at January 31, 2014, shows the following.

E3-7B (Analyze Adjusted Data) A partial adjusted trial balance of Coy Company at January 31, 2014, shows the following.

                                                                     COY COMPANY

                                                                 ADJUSTED TRIAL BALANCE

                                                                     JANUARY 31, 2014

                                                     Debit                             Credit

Supplies                                      $1,120

Prepaid Insurance                         3,840

Salaries and Wages Payable                                              $1,280

Unearned Revenue                                                             1,200

Supplies Expense                         1,520

Insurance Expense                         640

Salaries and Wages Expense        2,880

Service Revenue                                                                3,200

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 $1,360 of supplies was purchased in January, what was the balance in Supplies on January 1?

(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?

(c) If $4,000 of salaries was paid in January, what was the balance in Salaries Payable at December 31, 2013?

(d) If $2,560 was received in January for services performed in January, what was the balance in Unearned Revenue at December 31, 2013?

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