Question

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. Account Title Debits Credits Cash 32,600 Accounts receivable 41,000 Supplies 2,000 Inventory 61,000 Notes receivable 21,000 Interest receivable @ Prepaid rent 1,400 Prepaid insurance 7,000 Office equipment 84,000 Accumulated depreciation 31,500 Accounts payable 32,000 Salaries payable Notes payable 51,000 Interest payable @ Deferred sales revenue 2,500 Common stock 67,000 Retained earnings 31,000 Dividends 5,000 Sales revenue 151,000 Interest revenue Cost of goods sold 75,000 Salaries expense 19,400 Rent expense 11,500 Depreciation expense Interest expense Supplies expense 1,600 Insurance expense Advertising expense 3,500 Totals 366,000 366,000

Answer 1

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Due to character limit I am attaching the image for workings of adjustment entry .

Adjusting Entries
Account	Debit $	Credit $
Depreciation Expense	10,500.00
Accumulated Depreciation- Equipment		10,500.00
Salaries Expense	1,000.00
Salaries Payable		1,000.00
Interest Expense	1,530.00
Interest Payable		1,530.00
Interest Receivable	1,400.00
Interest Revenue		1,400.00
Insurance Expense	5,250.00
Prepaid Insurance		5,250.00
Supplies Expense	1,380.00
Supplies		1,380.00
Rent Expense	700.00
Prepaid Rent		700.00

T accounts
Prepaid Insurance
Date	Account	Debit	Credit	Balance
31-Dec-21	Balance	7,000.00		7,000.00
31-Dec-21	Insurance Expense		5,250.00	1,750.00
Accumulated Depreciation- Equipment
Date	Account	Debit	Credit	Balance
31-Dec-21	Balance		84,000.00	84,000.00
31-Dec-21	Depreciation- Equipment		10,500.00	94,500.00
Salaries Payable
Date	Account	Debit	Credit	Balance
31-Dec-21	Salaries Expense		1,000.00	1,000.00
Interest Revenue
Date	Account	Debit	Credit	Balance
31-Dec-21	Interest Receivable		1,400.00	1,400.00
Interest Receivable
Date	Account	Debit	Credit	Balance
31-Dec-21	Interest Revenue	1,400.00	-	1,400.00
Depreciation- Equipment
Date	Account	Debit	Credit	Balance
31-Dec-21	Accumulated Depreciation- Equipment	10,500.00		10,500.00
Salaries Expense
Date	Account	Debit	Credit	Balance
31-Dec-21	Balance	19,400.00		19,400.00
31-Dec-21	Salaries Payable	1,000.00		20,400.00
Insurance Expense
Date	Account	Debit	Credit	Balance
31-Dec-21	Prepaid Insurance	5,250.00		5,250.00
Interest Payable
Date	Account	Debit	Credit	Balance
31-Dec-21	Interest Expense		1,530.00	1,530.00
Interest Expense
Date	Account	Debit	Credit	Balance
31-Dec-21	Interest Payable	1,530.00		1,530.00
Supplies
Date	Account	Debit	Credit	Balance
31-Dec-21	Balance	2,000.00		2,000.00
31-Dec-21	Supplies Expense		1,380.00	620.00
Supplies Expense
Date	Account	Debit	Credit	Balance
31-Dec-21	Balance	1,600.00		1,600.00
31-Dec-21	Supplies	1,380.00		2,980.00
Prepaid Rent
Date	Add a comment Know the answer? Add Answer to: Pastina Company sells various types of pasta to grocery chains as private label brands. The company's... Your Answer: Post as a guest Your Name: What's your source? Earn Coins Coins can be redeemed for fabulous gifts. Log In Sign Up Post as anonymous Post Your Answer Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free. Similar Homework Help Questions Pastina Company sells various types of pasta to grocery chains as private label brands. The company's... 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 35,500 43,000 3,000 63,000 23,000 2,500 9,000 92,000 34,500 34,000 53,000 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... Pastina Company sells various types of pasta to grocery chains as private label brands. The company’s... 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. Account Title Debits Credits Cash 33,800 Accounts receivable 42,000 Supplies 2,500 Inventory 62,000 Notes receivable 22,000 Interest receivable 0 Prepaid rent 2,200 Prepaid insurance 7,000 Office equipment 88,000 Accumulated depreciation 33,000 Accounts payable 33,000 Salaries payable 0 Notes payable 52,000 Interest payable 0 Deferred sales revenue 3,000 Common... Pastina Company sells various types of pasta to grocery chains as private label brands. The company's... 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 36,100 43,400 3,200 63,400 23,400 @ 2,700 9,400 93,600 35, 100 34,400 @ 53,400 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... Pastina Company sells various types of pasta to grocery chains as private label brands. The company’s... 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. Account Title Debits Credits Cash 37,600 Accounts receivable 44,000 Supplies 3,500 Inventory 64,000 Notes receivable 24,000 Interest receivable 0 Prepaid rent 2,400 Prepaid insurance 8,000 Office equipment 96,000 Accumulated depreciation 36,000 Accounts payable 35,000 Salaries payable 0 Notes payable 54,000 Interest payable 0 Deferred sales revenue 4,000 Common... Pastina Company sells various types of pasta to grocery chains as private label brands. The company’s... 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. Account Title Debits Credits Cash 36,000 Accounts receivable 43,000 Supplies 3,000 Inventory 63,000 Notes receivable 23,000 Interest receivable 0 Prepaid rent 2,000 Prepaid insurance 7,500 Office equipment 92,000 Accumulated depreciation 34,500 Accounts payable 34,000 Salaries payable 0 Notes payable 53,000 Interest payable 0 Deferred sales revenue 3,500 Common... Pastina Company sells various types of pasta to grocery chains as private label brands. The company’s... 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. Account Title Debits Credits Cash 33,600 Accounts receivable 41,800 Supplies 2,400 Inventory 61,800 Notes receivable 21,800 Interest receivable 0 Prepaid rent 2,000 Prepaid insurance 6,900 Office equipment 87,200 Accumulated depreciation 32,700 Accounts payable 32,800 Salaries payable 0 Notes payable 51,800 Interest payable 0 Deferred sales revenue 2,900 Common... Pastina Company sells various types of pasta to grocery chains as private label brands. The company’s... 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. Account Title Debits Credits Cash 30,000 Accounts receivable 40,000 Supplies 1,500 Inventory 60,000 Notes receivable 20,000 Interest receivable 0 Prepaid rent 2,000 Prepaid insurance 6,000 Office equipment 80,000 Accumulated depreciation 30,000 Accounts payable 31,000 Salaries payable 0 Notes payable 50,000 Interest payable 0 Deferred sales revenue 2,000 Common... Pastina Company sells various types of pasta to grocery chains as private label brands. The company's... 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 31,600 41,000 2,080 61,000 21,000 2,400 6,500 B4,000 31,500 32,000 51,000 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... Pastina Company sells various types of pasta to grocery chains as private label brands. The company's... 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 35,500 43,000 3,000 63,000 23,000 2,500 9,000 92,000 34,500 34,000 53,000 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... Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. 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. Account Title Debits Credits Cash 35,500 Accounts receivable 43,000 Supplies 3,000 Inventory 63,000 Notes receivable 23,000 Interest receivable 0 Prepaid rent 2,500 Prepaid insurance 9,000 Office equipment 92,000 Accumulated depreciation 34,500 Accounts payable 34,000 Salaries payable 0 Notes payable 53,000 Interest payable 0 Deferred sales revenue 3,500 Common... ADVERTISEMENT Free Homework Help App Download From Google Play Scan Your Homework to Get Instant Free Answers Need Online Homework Help? Ask a Question Get Answers For Free Most questions answered within 3 hours. 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