Pastina company income statement

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WebApr 29, 2016 · Problem 2–4 (continued) PASTINA COMPANY Statement of Shareholders' EquityFor the Year Ended December 31, 2016 Total Common Retained Shareholders’ … WebMar 13, 2024 · The income statement is one of three statements used in both corporate finance (including financial modeling) and accounting. The statement displays the company’s revenue, costs, gross profit, selling …

In-class Problem (Chapter 002) Pastina Company sells …

WebA customer paid Pastina $2,000 in December for 1,500 pounds of spaghetti to be delivered in January 2024. Pastina credited deferred sales revenue. On December 1, 2024, $2,000 rent was paid to the owner of the building. The payment represented rent for December 2024 and January 2024 at $1,000 per month. The entire amount was debited to prepaid rent. WebSalaries earned from December 16 through December 31, 2024, were $1,800. On October 1, 2024, Pastina borrowed $54,000 from a local bank and signed a note. The note requires … family guy old man and the big c

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WebSolution for Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. ... Prepare an income … WebSalaries earned from December 16 through December 31, 2024, were $1,200. On October 1, 2024, Pastina borrowed $51,800 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. WebDec 31, 2011 · PASTINA COMPANY Closing Entries For Year Ending Dec. 31, 2011 Dec. 31 Sales revenue 146,000 Interest revenue 1333 Income summary 147,333 Dec. 31 … family guy old man herbert ice cream truck

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WebA customer paid Pastina $2,100 in December for 800 pounds of spaghetti to be delivered in January 2024. Pastina credited deferred sales revenue. 8. On December 1, 2024, $1,000 rent was paid to the owner of the building. The payment represented rent for December 2024 and January 2024 at $500 per month. The entire amount was debited to prepaid rent. WebSelect the statement below that explain how to use the Income Summary account. a) The Income Summary account is debited for the sum of all revenue accounts during the closing process. b) The Income Summary account is credited during the adjusting process, as it is a contra asset account. cooking with chili podsWebPastina Company sells various types of pasta to grocery chains as private label brands. ... Prepare an income statement and a statement of shareholders’ equity for the year … family guy old man herbert voice

"WebMay 28, 2024 · This income statement shows that the company brought in a total of $4.358 billion through sales, and it cost approximately $2.738 billion to achieve those sales, for a gross profit of $1.619 billion. " - Pastina company income statement

Pastina company income statement

pastina company post-closing trial balance december 31, …

WebOn October 1, 2024 Pastina borrowed $50,000 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 … WebOn November 1, 2016, the company paid its landlord $7,200 representing rent for the months of November through January. Prepaid rent was debited. Debit rent expense $4,800, credit prepaid rent $4,800 ($7200 / 3 = $2400 /month * 2 mo = $4800) The following transaction occurred during December 31, 2016, for the Microchip Company.

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WebIncome Statement Statement of SE Balance Sheet PASTINA COMPANY Income Statement For the Year Ended December 31 , 2024 Sales revenue $ 148,000 Cost of goods sold 72,000 Gross profit 76,000 Operating expenses Salaries expense 19,950 Rent expense 11,750 Depreciation expense 10,200 Advertising expense 3,200 Supplies expense 2,470 … WebA customer paid Pastina $2,800 in December for 1,150 pounds of spaghetti to be delivered in January 2024. Pastina credited deferred sales revenue. On December 1, 2024, $1,700 rent was paid to the owner of the building. The payment represented rent for December 2024 and January 2024 at $850 per month. The entire amount was debited to prepaid rent.

WebPastina Company sells various types of pasta to grocery chains as private label brands. ... Prepare an income statement and a statement of shareholders’ equity for the year ended December 31, 2024, and a classified balance sheet as of December 31, 2024. Assume that no common stock was issued during the year and that $4,000 Webpastina: [noun] very small bits of pasta used in soup or broth.

WebThe adjusted trial balance of Arctic Corporation at December 31 shows that sales revenue for the year was $ 525,000 and other revenue was $ 57,000. Cost of goods sold for that same period was $ 265,000 , while other expenses totaled $ 195,000. The corporation declared and paid dividends of $ 10,000 during the year. WebPASTINA COMPANY Statement of Shareholders' Equity For the Year Ended December 31, 2011 Total Retained Shareholders' Earnings Equity $ 28,500 $ 88,500 23,883 23,883 …

WebNov 18, 2024 · A customer paid Pastina $2,100 in December for 1,750 pounds of spaghetti to be delivered in January 2024. Pastina credited sales revenue. 8. On December 1, 2016, $3,000 rent was paid to the owner of the building. The payment represented rent for December 2016 and January 2024, at $1,500 per month.

WebSep 8, 2024 · Pastina can be shaped like little stars, tubes, or even tiny macaroni noodles or shells. Orzo is often classified as pastina as well. Barilla is one popular brand that … family guy old man memeWebDec 31, 2011 · PASTINA COMPANY Closing Entries For Year Ending Dec. 31, 2011 Dec. 31 Sales revenue 146,000 Interest revenue 1333 Income summary 147,333 Dec. 31 Income summary 123,450 Cost of goods sold 70,000 Wage expense 20,400 Rent expense 12,000 Depreciation expense 10,000 Interest expense 1,500 Supplies expense 1,800 Insurance … cooking with chips gamesWebFirst, journalize the adjusting journal entries (AJEs), as follows: Then, post the above AJEs to the worksheet, as follows: Then, extract the adjusted trial balance Finally, prepare the Balance Sheet Finally, prepare the Income Statement Finally, prepare the Statement of Shareholders' in Equity Step-by-step explanation family guy old man herbert voice actorWebPastina. Pastina ( Italian: literally, "little pasta") is a variety of pasta consisting of tiny pieces of pasta, typically of a round (irregular) shape with a diameter of about 1.6 millimetres (1/16"). [1] It is the smallest type of … family guy old man herbert singing cooking with chilli jamWebDec 31, 2024 · Question: PASTINA COMPANY Income Statement For the Year Ended December 31, 2024 0 0 0 0 0 . Show transcribed image text. Best Answer. This is the … family guy old man dogWebDec 31, 2024 · A customer pald Pastina $2,500 In December for 1,000 pounds of spaghettl to be dellvered in January 2024 Pastina credited deferred sales revenue. 8. On December 1, 2024, $1,400 rent was pald to the owner of the bullding. The payment represented rent … cooking with chili garlic sauce