Pastina Company sells various types of pasta to grocery chains as private label brands. The company's...
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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, 2024, appears below. Account Title Cash Accounts receivable Debits $ 32,300 Credits 40,800 Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation 1,900 60,800 20,800 0 1,300 6,800 83,200 $ 31,200 Accounts payable 31,800 Salaries payable 0 Notes payable 50,800 Interest payable 0 Deferred sales revenue 2,400 Common stock 65,600 Retained earnings 30,500 Dividends 4,800 Sales revenue 150,000 Interest revenue 0 Cost of goods sold 74,000 Salaries expense 19,300 Rent expense 11,400 Depreciation expense 0 Interest expense 0 Supplies expense Insurance expense Advertising expense Totals 1,500 0 3,400 $ 362,300 $ 362,300 Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $10,400. 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 #050 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, 2024, appears below. Account Title Cash Accounts receivable Debits $ 32,300 Credits 40,800 Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation 1,900 60,800 20,800 0 1,300 6,800 83,200 $ 31,200 Accounts payable 31,800 Salaries payable 0 Notes payable 50,800 Interest payable 0 Deferred sales revenue 2,400 Common stock 65,600 Retained earnings 30,500 Dividends 4,800 Sales revenue 150,000 Interest revenue 0 Cost of goods sold 74,000 Salaries expense 19,300 Rent expense 11,400 Depreciation expense 0 Interest expense 0 Supplies expense Insurance expense Advertising expense Totals 1,500 0 3,400 $ 362,300 $ 362,300 Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $10,400. 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 #050
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