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 41,800 Supplies 2,400 Inventory 61,800 Notes receivable 21,800 Interest receivable 0 Prepaid rent 1,800 Prepaid insurance 7,800 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 stock 72,600 Retained earnings 33,000 Dividends 5,800 Sales revenue 155,000 Interest revenue 0 Cost of goods sold 79,000 Salaries expense 19,800 Rent expense 11,900 Depreciation expense 0 Interest expense 0 Supplies expense 2,000 Insurance expense 0 Advertising expense 3,900 Totals 380,800 380,800 Information necessary to prepare the year end adjusting entries appears below Depreciation on the office equipment for the year is $10,900 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 $1,200 On October 1, 2021, Pastina borrowed $51,800 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 On March 1, 2021, the company lent a supplier $21,800 and a note was signed requiring principal and interest at 8 to be paid on February 28, 2022 On April 1, 2021, the company paid an insurance company $7,800 for a one year fire insurance policy The entire $7,800 was debited to prepaid insurance $740 of supplies remained on hand at December 31, 2021 A customer paid Pastina $2,900 in December for 1,200 pounds of spaghetti to be delivered in January 2022 Pastina credited deferred sales revenue On December 1, 2021, $1,800 rent was paid to the owner of the building The payment represented rent for December 2021 and January 2022 at $900 per month The entire amount was debited to prepaid rent rev 09 14 2019 QC CS 180268, 10 11 2019 QC CS 184133 Problem 2 4 (Algo) Part 6 6 Prepare a post closing trial balance PASTINA COMPANY Post Closing Trial Balance December 31, 2021 Account Title Debits Credits 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 Sales revenue Interest revenue Cost of goods sold Salaries and wages expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals

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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

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	41,800
Supplies	2,400
Inventory	61,800
Notes receivable	21,800
Interest receivable	0
Prepaid rent	1,800
Prepaid insurance	7,800
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 stock		72,600
Retained earnings		33,000
Dividends	5,800
Sales revenue		155,000
Interest revenue		0
Cost of goods sold	79,000
Salaries expense	19,800
Rent expense	11,900
Depreciation expense	0
Interest expense	0
Supplies expense	2,000
Insurance expense	0
Advertising expense	3,900
Totals	380,800	380,800

Information necessary to prepare the year-end adjusting entries appears below.

Depreciation on the office equipment for the year is $10,900.
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 $1,200.
On October 1, 2021, Pastina borrowed $51,800 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.
On March 1, 2021, the company lent a supplier $21,800 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
On April 1, 2021, the company paid an insurance company $7,800 for a one-year fire insurance policy. The entire $7,800 was debited to prepaid insurance.
$740 of supplies remained on hand at December 31, 2021.
A customer paid Pastina $2,900 in December for 1,200 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.
On December 1, 2021, $1,800 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $900 per month. The entire amount was debited to prepaid rent.

rev: 09_14_2019_QC_CS-180268, 10_11_2019_QC_CS-184133

Problem 2-4 (Algo) Part 6

6. Prepare a post-closing trial balance

PASTINA COMPANY
Post-Closing Trial Balance
December 31, 2021
Account Title	Debits	Credits
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
Sales revenue
Interest revenue
Cost of goods sold
Salaries and wages expense
Rent expense
Depreciation expense
Interest expense
Supplies expense
Insurance expense
Advertising expense
Totals