[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 36.40 43. tee 3,300 63,680 23,600 2.880 9.689 4400 35.400 34,600 Account Title 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 Comon stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salartes expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 53,6ee la 3800 S5200 37.5g 7.500 164,000 88,900 20 12, 29ee 4 saa 4140 414.12 Information necessary to prepare the year and adjusting entries appears below 1 Depreciation on the office equipment for the year is S118001 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 $1.700 3. On October 1, 2021. Pastina borrowed $53,600 from a local bank and signed a note The note requires Interest to be paid annually on September 30 at 12%. The principal is die in 10 years 4 On March 1, 2021, the company lent a supplier $23.600 and a note was signed requiring principal and interest at 8 to be paid on February 28, 2022 5. On April 2021, the company paid an insurance company 59.600 for a one year fire insurance policy. The entire $9,600 was debited to prepaid insurance 6.51.00 of supplies remained on hand at December 3 2021 7 A customer paid Pastina $3.800 in December for 1.650 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue 8 On December 2021 $2.800 rent was paid to the owner of the building the payment represented rent for December 2021 and January 2022 at $1400 per month The entire amount was debited to prepaid rent equired: & 2. Post the cradjusted balances and adjusting entres into the appropriate accounts Enter the number of the adjusting entry in HAWA minnud miinimum Cash Accounts Receivable 43,600 Bega 36,400 Beg bal End bal 36.400 End, bal 43, 6001 Bog bal Prepaid Rent 2.800 140018 Beg bal Prepaid Insurance 9,5001 3,600 5 End. bal 1.400 End bal 8,000 Supplies 3,300 Beg. bal Inventory 63.500 Beg bal 2,290 End. bal 1,010 End. bal 53,600 Note Receivable 23,600 Office Equipment 94 4001 Beg bal Beg, bal End bal 23.600 Endbal 54,400 Interest Receivable Bog bal Beg bal Accumulated Depreciation 35,400 11,800 1,573 End bal 1,573 End, bal 47 200 Salaries Payable Beg a Accounts Payable 34,600 Beg bal 1.7002 Endbal 34 600 End bal 1,700 Note Payable 52 Interest Payable anhol Sed Credits Debits 36,480 43,600 3,392 63,500 23,600 B 2. Bad 9, cee 94.400 3,400 39,500 $3,600 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid Insurance Office equipment Accumulated depreciation Accounts payable Salaries peable Notes payable Interest payable Deferred sales revenue Comce stock Retained earnings Sales revenue Interest rey Cast of goods sold Salaries se Rent expense Depreciation en Interest sense Suplies expense In egese Hvertising expense Totals 3,8 85.220 37,500 vidende 7,600 164,000 0 33,000 28,700 12,800 2. see 4,000 414,100 414,188 Information necessary to prepare the year-end adjusting entries appears below 1 Depreciation on the office equipment for the years $11,800 2 Employee salaries are paid twice a month, on the 22nd for salaries cathed ham the strough the 5th and the 7th of the following month for salanes eamed from the 16th through the end of the month. Salates eamed on December 15 through December 31, 2021 were $1.700. 3. On October 1, 2021, Pastina borrowed $53.600 from a local bank and ined a note. The note requires Interest to be paid annually on September 20 at 12%. The principal is due in 10 years 4 on March 1, 2021, the company lent a supplier $23,600 and note was signed equiring principal and interest at 89 10 be paid on February 28, 2022 5 On April 1, 2021, the company paid an insurance company $9.600 for a one year e insurance po The entre $9.600 was debited to prepaid insurance 6. $1010 of supplies remained on hand at December 31, 2021 7 A customer paid Pastina $3,800 in December for 1650 pinds of space to be delivered in January 2022. Pesta credited deferred sales revenue & On December 1 2021. $2.800 rent was paid to the owner of the big. The payment represented renforcerrier 2021 and January 2022 at $1,400 per month The entire amount was denied to prepaid rent Income Statement Statement of SE Balance Sheet Prepare the income statement for the year ended December 31, 2021. (other expenses should be indicated with a minus sign.) $ 164.000 (88.0001 76,000 PASTINA COMPANY Income Statement For the Year Ended December 31, 2021 ' Sales revenue Cost of goods sold Gross profit Operating expenses Salaries expense 22.4001 Rent expense 14200 Supplies expense 5,190 Insurance expense 7,200 Advertising expense 4.800 Depreciation expense 11.800 Interest payable 1 608 D Total operating expenses Operating income Other income expenses Interest revenue 2360 Interest experte Net income G7,198 8302 2.380 6,442 S Statement of SE > Complete this question by entering your answers in the tabs below Income Statement Statement of SE Balance Sheet Prepare the statement of shareholders' equity for the year ended December 31, 2021. PASTINA COMPANY Statement of Shareholders' Equity For the Year Ended December 11, 2001 Common Retained Stock Earnings Bacanary t. 2001 35 2005 37.500 Ad Net income 0 57016 7,800 Balance at December 31, 2021 5 85,2003 95110 Total Shareholders Equity 57 616 7,600 PASTINA COMPANY Balance Sheet At December 31, 2021 Assets Current assets Cash S Accounts receivable Supplies 36 400 43,600 1010 63.600 23,600 Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance 1,400 2 400 172,010 Total current assets Office equipment Accumulated depreciation 0 172.010 Total assets Liabilities and Shareholders' Equity Current liabilities Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue 0 Total current liabilities Shareholders' equity Common stock Retained earnings Total Shareholders' city Credits Debits 36,400 43,60a 3,30 53,600 23,600 @ 2,800 9,600 94,400 35,400 34,600 53,600 Account Title 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 Comon stock Retained earnings Dividends Sales revenue Interest revenue Cast of goods sold Salaries expense Rent expense Depreciation expense Interest expe Supplies expense Insurance expense Advertising expense Totals 3, 85,20 37,500 7,600 164,000 88.se 20.780 12,uee e 2.900 4,8 434,198 414,100 Information necessary to prepare the year-end adjusting entries appears below! 1 Depreciation on the office equipment for the year is $11,800 2. Employee salaries are paid twice a month on the 22nd for salanes eamed from the ist through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month Salanes earned from December 16 through December 31, 2021 were $1700 3. On October 1, 2021. Pastina borrowed $53,600 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, 2021, the company lent a supplier $23,600 and a note was signed requing principal and interest at 8% to be paid on February 28, 2022 5. On April 1, 2021, the company paid an insurance company $9600 for a one-veer nire insurance policy. The entire 59.600 was debited to prepaid insurance 6.51.010 of supplies remained on hand at December 31 2021 7. A customer paid Pastina $3,800 in December for 1,650 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue 8 On December 1, 2021, 52,800 rent was paid to the owner of the building the payment represer for Der 2021 and January 2022 at $1.400 per month. The entire amount was debited to prepaid rent. 5. Prepare closing entries (if no entry is required for a particular transaction, select "No Journal entry required in the first account field. Do not round Intermediate calculations. Round your final answers to nearest whole dollar.) View transaction Journal entry worksheet Record the entry to dose the revenue accounts Net Entert before redes. Date December 31, 2001 General Journal Debit Crede Record Charentes Vw galjom Credits Debits 36,400 43,600 3,300 63,600 23,600 2,800 9,600 94,400 Account Title 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 Comon stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 35,400 34,600 a 53.600 a 3.se 85,200 37,500 7.500 164.000 B 88,000 20,700 12,800 8 2,900 a 4.800 414,100 414,100 Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,800 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 $1,700 3. On October 1, 2021. Pastina borrowed $53,600 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, 2021, the company lent a supplier $23,600 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 59.600 for a one-year fire insurance policy. The entire $9.600 was debited to prepaid Insurance. 6 $1010 of supplies remained on hand at December 31, 2021 7 A customer paid Pastina $3,800 in December for 1650 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue. 8. On December 1, 2021, $2,800 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at 51,400 per month. The entire amount was debited to prepaid rent. 6. Prepare a post-closing trial balance. (Do not round Intermediate calculations. Round your final answers to nearest whole dollar) PASTINA COMPANY Post-Closing Trial Balance December 31, 2021 Account TIG Debits Cash Accounts receivable Supplies Credits Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Orice giment Accumulated depreciation Accounts payable Salaries payable Nobes payable Interest payable Deferred sales revenue Common stock Reted earning Sales revenue interest revenue Cost of goods Salanes and wages espense Hent expense Depreciation expense Interestespense Suppies expende Insurance expense Advertising expense Tetats S 05 0 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 36,400 43,600 3,300 63,600 23,600 2,800 9,600 94,400 35,400 34,600 53,600 Account Title 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 Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 3,800 85,280 37,500 7,600 164,000 0 88,000 20,700 12,800 2,900 @ 4,800 414,100 414,100 88,000 20,700 12,800 Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 2,900 4,800 414,100 414,100 Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,800. 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 $1,700. 3. On October 1, 2021. Pastina borrowed $53,600 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, 2021, the company lent a supplier $23,600 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 $9,600 for a one-year fire insurance policy. The entire $9,600 was debited to prepaid insurance. 6. $1,010 of supplies remained on hand at December 31, 2021. 7. A customer paid Pastina $3,800 in December for 1,650 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue. 8. On December 1, 2021, $2,800 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1,400 per month. The entire amount was debited to prepaid rent. 8. Next > 9 10 12 of 12