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please do required Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $10,000 2.
please do required
Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $10,000 2. Employee salarles are pald twice a month, on the 22 nd for salarles eamed from the 1 st through the 15 th, and on the 7 th of the following month for salarles earned from the 16 th through the end of the month. Salarles earned from December 16 through December 31,2024 , were $1,500. 3. On October 1, 2024, Pastina borrowed $50,000 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. 2024, the company lent a supplier $20.000, and a note was signed requiring principal and interest at 8% to be paid on February 28, 2025. 5. On April 1, 2024, the company paid an insurance company $6.000 for a one-year fire insurance policy. The entire $6,000 was debited to prepaid insurance at the time of the payment 6.$800 of supplies remained on hand on December 31,2024 7. The company recelved $2,000 from a customer in December for 1,500 pounds of spaghett to be delivered in January 2025. Pastina credited deferred sales revenue ot the tume cash was recefved. B. On December 1, 2024, $2,000 rent was pald to the owner or the pulding. The payment represented rent for December 2024 and January 2025 at $1,000 per month. The enure amount was debited to prepaid rent at the time of the payment Pastina Company sells various types of pasto to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31,2024 , appears below. Required: Prepare the necessary December 31, 2024, adjusting joumal entries. Note: If no entry is required for a transoction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollor amount. Required: 1 to 3 . First, post the unadjusted balances from the unadjusted trial balance that was given and the adjusting entries that were made in Problem 23 into the appropriate T-accounts (on the T-accounts tab). Then prepare an adjusted trial balance. 4-0. Prepare an income statement for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $4,000 in cash dividends were paid to shareholders during the year. 4-b. Prepare a statement of shareholders' equity for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $4,000 in cash dividends were paid to shareholders during the year. 4-c. Prepare o classified balance sheet as of December 31,2024 . Assume that no common stock was issued during the year and that $4,000 in cash dividends were paid to shareholders during the year. 5. Prepare closing entries and post to the T-accounts (on the T-accounts tab). 6. Prepare o post-closing trial balance. Answer is not complete. Complete this question by entering your answers in the tabs below. Post the unadjusted balances and adjusting entries into the appropriate r-accounts (on the T-accounts tab). Then prepare an adjusted trial balance. Note: Do not round intermediate calculations, Round your final answers to nearest whole dollat Step by Step Solution
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