In: Accounting
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.
Account Title | Debits | Credits | ||
Cash | 33,800 | |||
Accounts receivable | 41,800 | |||
Supplies | 2,400 | |||
Inventory | 61,800 | |||
Notes receivable | 21,800 | |||
Interest receivable | 0 | |||
Prepaid rent | 1,800 | |||
Prepaid insurance | 7,800 | |||
Office equipment | 87,200 | |||
Accumulated depreciation | 32,700 | |||
Accounts payable | 32,800 | |||
Salaries payable | 0 | |||
Notes payable | 51,800 | |||
Interest payable | 0 | |||
Deferred sales revenue | 2,900 | |||
Common stock | 72,600 | |||
Retained earnings | 33,000 | |||
Dividends | 5,800 | |||
Sales revenue | 155,000 | |||
Interest revenue | 0 | |||
Cost of goods sold | 79,000 | |||
Salaries expense | 19,800 | |||
Rent expense | 11,900 | |||
Depreciation expense | 0 | |||
Interest expense | 0 | |||
Supplies expense | 2,000 | |||
Insurance expense | 0 | |||
Advertising expense | 3,900 | |||
Totals | 380,800 | 380,800 | ||
Information necessary to prepare the year-end adjusting entries appears below.
rev: 09_14_2019_QC_CS-180268, 10_11_2019_QC_CS-184133
Problem 2-4 (Algo) Part 6
6. Prepare a post-closing trial balance
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