Question

Required information [The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 36,400 43,600 3,300 63,600 23,600 2,800 9,600 94,400 35,400 34,600 53,600 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 3,800 85,200 37,500 7,600 164,000 88,000 20,700 12,800 2,900 4,800 414,100 414,100 Information necessary to prepare the year-end adjusting entries appears below.

Answer 1

Post Closing Trial Balance
December 31, 2021
Account Title	Debit	Credit
Cash	36,400
Accounts receivable	43,600
Supplies	1,010
Inventory	63,600
Notes receivable	23,600
Interest receivable	1,573
Prepaid rent	1,400
Prepaid insurance	2,400
Office equipment	94,400
Accumulated depreciation		47,200
Accounts payable		34,600
Salaries payable		1,700
Notes payable		53,600
Interest payable		1,608
Deferred sales revenue		3,800
Common Stock		85,200
Retained Earnings		40,275
Total	267,983	267,983