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 | 32,000 | |||
Accounts receivable | 40,600 | |||
Supplies | 1,800 | |||
Inventory | 60,600 | |||
Notes receivable | 20,600 | |||
Interest receivable | 0 | |||
Prepaid rent | 1,200 | |||
Prepaid insurance | 6,600 | |||
Office equipment | 82,400 | |||
Accumulated depreciation | 30,900 | |||
Accounts payable | 31,600 | |||
Salaries payable | 0 | |||
Notes payable | 50,600 | |||
Interest payable | 0 | |||
Deferred sales revenue | 2,300 | |||
Common stock | 64,200 | |||
Retained earnings | 30,000 | |||
Dividends | 4,600 | |||
Sales revenue | 149,000 | |||
Interest revenue | 0 | |||
Cost of goods sold | 73,000 | |||
Salaries expense | 19,200 | |||
Rent expense | 11,300 | |||
Depreciation expense | 0 | |||
Interest expense | 0 | |||
Supplies expense | 1,400 | |||
Insurance expense | 0 | |||
Advertising expense | 3,300 | |||
Totals | 358,600 | 358,600 | ||
Information necessary to prepare the year-end adjusting entries appears below.
3. Prepare an adjusted trial balance. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)
Adjusted Trial Balance
Debit Credit
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 | $0 | $0 |