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can i have the answer for these please The following information applies to the questions displayed below. Pastina Company sells various types of pasta to

can i have the answer for these please

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 fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2016, appears below. Account Title Debits Credits Cash 44,600 Accounts receivable 61,000 Supplies 2,000 Inventory 80,000 Note receivable 32,100 Interest receivable 0 Prepaid rent 3,000 Prepaid insurance 0 Office equipment 100,000 Accumulated depreciationoffice equipment 37,500 Accounts payable 40,000 Salaries and wages payable 0 Note payable 74,100 Interest payable 0 Deferred revenue 0 Common stock 60,000 Retained earnings 24,500 Sales revenue 248,000 Interest revenue 0 Cost of goods sold 111,600 Salaries and wages expense 21,000 Rent expense 16,500 Depreciation expense 0 Interest expense 0 Supplies expense 1,500 Insurance expense 6,800 Advertising expense 4,000 Totals 484,100 484,100

Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $12,500. 2. Employee salaries and wages are paid twice a month, on the 22nd for salaries and wages earned from the 1st through the 15th, and on the 7th of the following month for salaries and wages earned from the 16th through the end of the month. Salaries and wages earned from December 16 through December 31, 2016, were $1,800. 3. On October 1, 2016, Pastina borrowed $74,100 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. 4. On March 1, 2016, the company lent a supplier $32,100 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2017. 5. On April 1, 2016, the company paid an insurance company $6,800 for a two-year fire insurance policy. The entire $6,800 was debited to insurance expense. 6. $1,070 of supplies remained on hand at December 31, 2016. 7. A customer paid Pastina $2,100 in December for 1,750 pounds of spaghetti to be delivered in January 2017. Pastina credited sales revenue. 8. On December 1, 2016, $3,000 rent was paid to the owner of the building. The payment represented rent for December 2016 and January 2017, at $1,500 per month.

Required information For requirement 4, Assume that no common stock was issued during the year and that $3,600 in cash dividends were paid to shareholders during the year.

4. Prepare the income statement, statement of shareholders' equity and classified balance sheet for the year ended December 31, 2016. (For Balance Sheet only, items to be deducted must be indicated with a negative amount. Other expenses should be indicated with a minus sign.)

5. Prepare closing entries. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) 11.value: 15.00 pointsRequired information

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