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Topic: Miscellaneous
Number of pages / Number of words: 3 / 565
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E3-7; P3-4 not part e

E3-7

A) Starting Supplies = X ;Supplies Purchases in Jan = $850; Supplies Exp Jan 31 = $950; Supplies Jan 31 = $700

Equation: X + $850 - $950 = $700

X - $100 = $700

X = $800

The balance of supplies on January 1 was $800.

B) Insurance Expense Jan 31 = $400; Prepaid Insurance Jan 31 = $2,400

Equation 1 = $2,400 + $400 = $2,800

Equation 2 = $2,800/365 = $7...


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E3-7; P3-4 not part e

E3-7

A) Starting Supplies = X ;Supplies Purchases in Jan = $850; Supplies Exp Jan 31 = $950; Supplies Jan 31 = $700

Equation: X + $850 - $950 = $700

X - $100 = $700

X = $800

The balance of supplies on January 1 was $800.

B) Insurance Expense Jan 31 = $400; Prepaid Insurance Jan 31 = $2,400

Equation 1 = $2,400 + $400 = $2,800

Equation 2 = $2,800/365 = $7...


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