Required information [The following information applles 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, 2018, appears below. Account Title Debits Credits Cash 39,550 Accounts receivable 47,008 Supplies 1,300 Inventory 67,000 Note receivable 20,400 Interest receivable Prepaid rent 1,600 Prepaid insurance 72,600 Accumulated depreciation-office equipment 27,888 26,00 Salaries and wages payable Note payable 58,480 Interest payable e Deferred revenue e Connon stock 68,28 Retained earnings 18. Bee Sales revenue 183, eee Interest revenue e Cost of goods sold B2,350 Salaries and wages expense 16,800 Rent expense 8,880 Depreciation expense Interest expense @ Supplies expense Insurance expense 4,200 Advertising expense 2,600 Totals 364,400 364, 420 Information necessary to prepare the year end adjusting entries appears below. 1 Depreciation on the office equipment for the year is $9.000 2. Employee salaries and wage 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, 2018, were $100 3. On October 1, 2018, Pastina borrowed $50,400 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, 2018, the company lent a supplier 520.400 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2019 5. On April 1, 2018, the company paid an insurance company $4200 for a two-year fire insurance policy. The entire $4,200 was debited to Insurance expense. 6. $680 of supplies remained on hand at December 31, 2018 7. A customer paid Pastina $1.320 in December for 1100 pounds of spaghetti to be delivered in January 2019. Pastina & On December 2018, 51,600 rent was paid to the owner of the building. The payment represented rent for December 2018 and January 2019, at $800 per month 3. Prepare an adjusted til balance PASTINA COMPANY Adjusted Tillance December 31, 2013 Account Title Credits Cash Accor 3. Prepare an adjusted trial balance. PASTINA COMPANY Adjusted Trial Balance December 31, 2018 Account Title Debits Credits Cash Accounts receivable Prepaid rent Prepaid insurance Supplies Inventory Note receivable Interest receivable Office equipment Accumulated depreciation-office equipment Accounts payable Salaries and wages payable Note payable Interest payable Deferred revenue Common stock Retained earnings Sales revenue Interest revenue Cost of goods sold Salaries and wages expense Rent expense Depreciation expense Interest expense Supplies experts rance expense Advertising expen
