[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 Debit 25,800 42.200 3.100 63,200 29.200 2,800 9. 200 92.800 34,800 34,200 52,200 Account Title Cash accounts receivable Supplies Inventory Notes Ecco ivable Interest receivable Prepaid Een Propaid insurance Office equipment Acculated depreciation accounts payable Salarice payable Notes payable Interest payable Deferred sales revenue COTT stock Retained datings Dividends Sales Evenue Interest revenue Cost of good old Salaris expense Rent expense Depreciation expense Interest expense Supplies expense Insurance pense Advertising capense 3.500 82,400 36,500 7.200 162,000 86.000 20, 500 12,600 2.700 4.600 Tocals 406, 700 405,700 Information necessary to prepare the year-end adusting entries appears below. 1. Depreciation on the office equipment for the year is $11.600. 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 $1,600. 3. On October 1, 2021, Pastina borrowed $53,200 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 $23,200 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 $9.200 for a two-year fire insurance policy. The entire $9.200 was debited to prepaid insurance 6. $950 of supplies remained on hand at December 31, 2021. 7. A customer paid Pastina $3,600 in December for 1550 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue 8. On December 1, 2021. $2,600 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1,300 per month. The entire amount was debited to prepaid rent. Income statement statement of SE Balance Sheet Prepare the income statement for the year ended December 31, 2021. (04 minus sign.) PASTINA COMPANY Income Statement For the Year Ended December 31, 2021 Income Statement Statement of SE Balance Sheet Prepare the statement of shareholders' equity for the year ended December PASTINA COMPANY Statement of Shareholders' Equity For the Year Ended December 31, 2021 Common Stock Retained Earnings Total Shareholders Equity Balance at January 1, 2021 Balance at December 31, 2021 PASTINA COMPANY Balance Sheet At December 31, 2021 Assets Liabilities and Shareholders' Equity [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 Debit 25,800 42.200 3.100 63,200 29.200 2,800 9. 200 92.800 34,800 34,200 52,200 Account Title Cash accounts receivable Supplies Inventory Notes Ecco ivable Interest receivable Prepaid Een Propaid insurance Office equipment Acculated depreciation accounts payable Salarice payable Notes payable Interest payable Deferred sales revenue COTT stock Retained datings Dividends Sales Evenue Interest revenue Cost of good old Salaris expense Rent expense Depreciation expense Interest expense Supplies expense Insurance pense Advertising capense 3.500 82,400 36,500 7.200 162,000 86.000 20, 500 12,600 2.700 4.600 Tocals 406, 700 405,700 Information necessary to prepare the year-end adusting entries appears below. 1. Depreciation on the office equipment for the year is $11.600. 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 $1,600. 3. On October 1, 2021, Pastina borrowed $53,200 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 $23,200 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 $9.200 for a two-year fire insurance policy. The entire $9.200 was debited to prepaid insurance 6. $950 of supplies remained on hand at December 31, 2021. 7. A customer paid Pastina $3,600 in December for 1550 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue 8. On December 1, 2021. $2,600 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1,300 per month. The entire amount was debited to prepaid rent. Income statement statement of SE Balance Sheet Prepare the income statement for the year ended December 31, 2021. (04 minus sign.) PASTINA COMPANY Income Statement For the Year Ended December 31, 2021 Income Statement Statement of SE Balance Sheet Prepare the statement of shareholders' equity for the year ended December PASTINA COMPANY Statement of Shareholders' Equity For the Year Ended December 31, 2021 Common Stock Retained Earnings Total Shareholders Equity Balance at January 1, 2021 Balance at December 31, 2021 PASTINA COMPANY Balance Sheet At December 31, 2021 Assets Liabilities and Shareholders' Equity
