2 Pastina Company sells vanous types of pasta to grocery The unadjusted trial ba

Question

2 Pastina Company sells vanous types of pasta to grocery The unadjusted trial balance as of December 31, 2018, appears below chains as private label brands. The companys fiscal year-end is December 31. 34,800 44,000 1,609 64,800 24,800 Cash Accounts receivable Supplies Note receivable Interest receivable Prepaid rent 2,280 Office equipment 88,800 33,800 35,868 Accumulated depreciation-office equipment Accounts payable Salaries and wages payable Note payable Interest payable Deferred revenue Common stock Retained earnings Sales revenue Interest revenue Cost of goods sold Salaries and wages expense Rent exp Depreciation expense 54,800 64,886 36,288 152,8e0 74,eee 19,3ee 12,1e0 Interest expense 1,200 6,488 ,488 Supplies expense Insurance expense Advertising expense Totals 74,280 374,288 Information necessary to prepare the year-end adjusting entries appears below

Explanation / Answer

DR CR Depreciation expense 11000 Accumulated depreciation 11000 salaries and Wages Expense 1600 salaries and Wages Payable 1600 Interest Expense 1620 Interest Payable 1620 (54000*0.12/12*3) Interest receivable 1800 Interest revenue 1800 =24000*10*9%/12 Insurance Expense 4050 Insurance Prepaid 4050 Supplies Expense 900 Supplies 900 Sales revenue 2400 Unearned Revenue 2400 Rent expense 1100 rent Payable 1100

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