Homework Help

Business
Accounting
pastina company sells vartous types of december 31 the unadjusted...

Question: pastina company sells vartous types of december 31 the unadjusted...

Question details

Pastina Company sells vartous types of December 31. The unadjusted tral balance as of December 31, 2018, appears below pasta to grocery chains as private label brands. The companys fiscal year-end is Debits Credits Cash Accounts receivable Supplies Inventory Note receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation-office equipnent 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 expense Depreciation expense Interest expense Suppiies expense Insurance expense Advertising expense 38,0e0 48,8e0 1,5e0 68,800 28,808 2,808 80,880 8,989 31,8e8 5e,0e0 6e,e80 24,588 148,eee 78,ee0 18,988 1, 100 43,548 343,se0 Totals information necessary so preoare the year-end scjusting entries appears below 10 11 12 13 13 Next Prey

Statement of Balance Sheet Statement Prepare the income statement for the year ended December 31, 2018. (other expenses should be indicated with a m sign.) inus PASTINA COMPANY Income Statement For the Year Ended December 31, 2018 Statement of SE >

2018. Complete this question by entering your answers in the tabs below. Statement of Balance Sheet Income Staterment SE Prepare the statement of shareholders equity for the year ended December 31, 2018. PASTINA COMPANY Statement of Shareholders Equity For the Year Ended December 31, 2018 Total Common Retained Shareholders Earnings Stock Equity Balance at January 1, 2018 ealance at Decembe 31. 2018 Income Staterment Balance Sheet >

Income S IStatement|Balance Sheet nt Prepare the classified balance sheet for the year ended December 31, 2018. (Amounts to be deducted should be indicate a minus sign.) PASTINA COMPANY Balance Sheet At December 31. 2018

media%2F791%2F7913f653-e2c5-4e0d-90a4-a2

Salaries and wages expense Rent expense Depreciation expense Interest expense 18,9e0 11,800 upplies expense Insurance expense Advertising expense 1,188 6,000 3,eee Totals 343,500 343,5ee Information necessary to prepare the year-end adjusting entries appears below 1 Depreciation on the office equipment for the year is $10,000. 2. Employee salaries and wages are pald twice a month, on the 22nd for salaries and wages earned from the 1st through the 15th, and on the 7th of the following month for salartes and wages earned from the 16th through the end of the 3. On October 1, 2018, Pastina borrowed $50.000 from a local bank and signed a note. The note requires Interest to be 4. On March 1, 2018, the company lent a supplier S20.000 and a note was signed requiring principal and interest at 8% to 5. On April 1, 2018, the company paid an insurance company $6.000 for a two-year fire insurance policy. The entire 6. $800 of supples remained on hand at December 31, 2018. month. Salaries and wages earned from December 16 through December 31, 2018, were $1,500 paid annually on September 30 at 12%. The principal is due in 10 years. be paid on February 28. 2019. $6,000 was debited to insurance expense 7. A customer paid Pastina $2.000 in December for 1,500 pounds of spaghetti to be delivered in January 2019. Pastina 8. On December 1, 2018, S2.000 rent was paid to the owner of the building. The payment represented rent for December credited sales revenue. 2018 and January 2019 at $1,000 per month.

Solution by an expert tutor

Blurred Solution

This question has been solved

Subscribe to see this solution