subject
Business, 18.02.2020 21:33 rnunez3

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 Debits 31,400 40,880 1,900 68,800 20,800 2.200 6,400 83,200 31,280 31, Bee 58,800 Account Title 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 2,4ee 65,200 38,500 4,888 150.ee 74.000 19,300 11.400 1,500 3,40e 361.900 161.000 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 through December 31, 2021, were $1,600.. 3. On October 1, 2021. Pastina borrowed $50,800 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 $20.800 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 $6.400 for a two-year fire insurance policy. The entire $6.400 was debited to prepaid insurance, 6. $700 of supplies remained on hand at December 31, 2021. 7. A customer paid Pastina $2.400 in December for 1,524 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue. 8. On December 1, 2021. $2,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022, at $1,100 per month. The entire amount was debited to prepaid rent. Required: Prepare the necessary December 31, 2021. adjusting journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round Intermediate calculations. Round your final answers to nearest whole dollar amount.)

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 21.06.2019 23:20, pwolfiimp4
Which feature transfers a slide show into a word-processing document?
Answers: 2
image
Business, 22.06.2019 17:40, briannagiddens
Adamson company manufactures four lines of garden tools. as a result of an activity analysis, the accounting department has identified eight activity cost pools. each of the product lines is produced in large batches, with the whole plant devoted to one product at a time. classify each of the following activities or costs as either unit-level, batch-level, product-level, or facility-level. activities (a) machining parts. (b) product design. (c) plant maintenance. (d) machine setup. (e) assembling parts. (f) purchasing raw materials. (g) property taxes. (h) painting.
Answers: 2
image
Business, 22.06.2019 21:10, kayleerichards666
Acompany has two products: standard and deluxe. the company expects to produce 36,375 standard units and 62,240 deluxe units. it uses activity-based costing and has prepared the following analysis showing budgeted cost and cost driver activity for each of its three activity cost pools. budgeted activity of cost driver activity cost pool budgeted cost standard deluxe activity 1 $ 93,000 2,500 5,250 activity 2 $ 92,000 4,500 5,500 activity 3 $ 87,000 3,000 2,800 what is the overhead cost per unit for the standard units? what is the overhead cost per unit for the deluxe units? (round activity rate and cost per unit answers to 2 decimal places.)activity expected costs expected activity driver activity rate1 93,000 2 92,000 3 87,000 standard activity activity driver activity rate allocated costs1 2 3
Answers: 2
image
Business, 22.06.2019 21:50, JewelzSkullz
Which three of the following expenses can student aid recover? -tuition -television -school supplies -parties and socializing -boarding/housing
Answers: 2
You know the right answer?
Pastina Company sells various types of pasta to grocery chains as private label brands. The company'...

Questions in other subjects:

Konu
Chemistry, 05.02.2020 04:47
Konu
Biology, 05.02.2020 04:47
Konu
History, 05.02.2020 04:47