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. 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 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 3,700 83,800 37,000 7.400 163,000 @ 87.000 20,600 12,700 2.800 4,200 410,400 410,400 Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11.700 2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $1,650 3. On October 1, 2021, Pastina borrowed $53,400 from a local bank and signed a note. The note requires interest to be

Answer 1

Depreciation Expense-Office equipment		Accumulated Depreciation-Equipment
Details	Debit	Credit	Balance		Date	Debit	Credit	Balance
Depreciation 2021	11,700	-	-		Opening Balance		35,100	-
					Depreciation of 2021		11,700
Ending balance	11,700	-	11,700		Ending balance		46,800	46800
Salaries Expense		Salaries Payable
details	Debit	Credit	Balance		details	Debit	Credit	Balance
Beg Balance	20,600				Dec Payroll accrual		1,650
Dec payroll accrual	1,650
Ending balance	22,250	0	22,250		Ending balance		1,650	1650
Interest Expense		Interest Payable
details	Debit	Credit	Balance		details	Debit	Credit	Balance
Accrued Interest for 90 days	1,580				Accrued Interest for 90 days		1,580
Ending balance	1,580	0	1,580		Ending balance		1,580	1,580
Interest Income		Accrued Interest Receivable
details	Debit	Credit	Balance		details	Debit	Credit	Balance
Accrued Interest receivable for 275 days		1,410			Accrued Interest receivable for 275 days	1,410	-
Ending balance	-	1,410	1,410		Ending balance	1,410	-	1,410
Insurance Expense		Prepaid Insurance
details	Debit	Credit	Balance		details	Debit	Credit	Balance
Accrued InterestInsurance exp for 9 months from Apr to dec 2021	7,050	-			Beg balance	9,040
					Expense for 2021		7050
Ending balance	7,050	-	7,050		Ending balance	9,040	7,050	1,990
Supplies Expense		Supplies
details	Debit	Credit	Balance		details	Debit	Credit	Balance
Supplies expense for 2021	2,220	-			Beg balance	3,200
	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 37,000 Accounts receivable 44,000 Supplies 3,500 Inventory 64,000 Notes receivable 24,000 Interest receivable 0 Prepaid rent 3,000 Prepaid insurance 10,000 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... 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 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... 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 fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2018, appears below. Credits Debits 46,350 56,000 1,750 75,000 27,600 0 2,500 0 90,000 33,750 35,000 Account Title Cash Accounts receivable Supplies Inventory Note receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation office equipment Accounts payable Salaries and wages payable Note payable Interest payable Deferred 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. 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. 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 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 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. 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... 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. ADVERTISEMENT Share Your Knowledge Post an Article +5 Coins Post an Answer +5 Coins Post a Question with Answer +5 Coins ADVERTISEMENT Active Questions Assess the two types of tests of cognitive abilities. ( regarding HR course) asked 1 minute ago 1.Write an inspiring vision statement for an organization where you work or have worked. If the... asked 2 minutes ago 2. Is fair trade coffee sustainable for the mass market, or is it a niche product... asked 3 minutes ago Please answer this asap in MATLAB. In the following for loop, the the loop is executed... asked 15 minutes ago A 50.0-g golf ball is driven from the tee with an initial speed of 44.6 m/s... asked 10 minutes ago Use the molar concentration of the 50 mL solution to calculate the moles of Cr(III) in... asked 12 minutes ago Calculate the molarity of Fe3+ in solution A. Solution A: 10 mL of 0.0600 M Fe(No3)3  ... asked 21 minutes ago two dogs pull 2 strings horizontally which are tied to a sleigh. the angle between the... asked 22 minutes ago please write a paper about any ethical violation based on the case study Stanford's Prison Experiment.... asked 43 minutes ago What is the advantage of considering each of the following in calculating the work done by... asked 49 minutes ago Write a stored function that takes a number as its input and returns that number as... asked 48 minutes ago In the laboratory, a general chemistry student measured the pH of a 0.527 M aqueous solution... asked 54 minutes ago ADVERTISEMENT DMCA About Contact Terms of Use Privacy Policy Academic Honesty Policy Homework Answer Scanner App © 2013-2022 ZuoTi.Pro user contributions licensed under cc by-sa 4.0