Required information [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 reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 30 000 40 000 1,500 60.000 20.000 0 2,00 5,000 80.000 Account Tide 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 Deleted sales revenue Common stock Retained earnings Dividerids Sales revenue Intergstrovano Cost of goods sold Salarles expense Rent expense Depreciation expense Interest expenso Suppbos exponse Insurance expense 30.000 31000 0 50.000 2,000 60,000 28,500 4,000 146.000 0 70,000 18 900 11.000 0 0 1.100 0 Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 0 1100 0 3.000 347.500 347 500 Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the office equipment for the year is $10,000 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 $1,500. 3. On October 1 2021. 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 On March 1, 2021, the company lent a supplier $20.000, and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022 5 on April 1, 2021, the company paid an insurance company S6,000 for a one-year tire insurance policy. The entire $6,000 was debited to prepaid insurance 6 $800 of supplies remained on hand at December 31, 2021 7. A customer paid Pastina $2.000 in December for 1,500 pounds of spaghetti to be delivered in January 2022 Pastina credited deferred sales revenue 8 on December 1, 2021. $2,000 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1.000 per month The entire amount was debited to prepaid rent, Required: 1. & 2. Post the unadjusted balances and adjusting entires into the appropriate t-accounts. (Enter the number of the adjusting entry in the column next to the omount. Do not round intermediate calculations, Round your final answers to nearest whole dollar.) Required: 1. & 2. Post the unadjusted balances and adjusting entires into the appropriate t-accounts. (Enter the number of the adjusting entry in the column next to the amount. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) 5 Cash Accounts Receivable Bog bal Beg ball End bal End bal Prepaid Rent Prepaid Insurance Beg bal Beg bal End, bal End bal Supplies Inventory Beg bal Beg bal End bal [End bal Supplies Inventory Beg bal. Beg. bal End, bal End, bal Notes Receivable Office Equipment Beg bal Beg. bal End, bal End. bal. Interest Receivable Accumulated depreciation Beg. bal Beg bal End, bal End, bal Accounts Payable Salaries payable Ren hal Ren hal Accounts Payable Salaries payable Beg bal. Beg bal. End bal End, bal Notes Payable Interest Payable Beg bal Beg bal End, bal End, bal Deferred sales revenue Common Stock Beg bal Beg bal End, bal End bal Retained Earnings Dividends Beg. bal Beg bal Retained Earnings Dividends Beg bal. Beg bal End. bal. End, bal Sales revenue Interest revenue Beg. bal. Beg bal. End, bal End, bal Cost of goods sold Salaries expense Beg. bal Beg bal End, bal End, bal Rent expense Depreciation expense Beg bal. Beg bal Rent expense Depreciation expense Beg. bal Beg bal. End, bal End, bal Interest expense Supplies expense Beg bal. Beg bal. End bal. End, bal Insurance expense Advertising expense Beg. bal Beg bal End. bal. End, bal
