C Spire 3G 11:21 AMM Personal Hotspot: 1 Connection instructure-uploads.s3.amazo

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C Spire 3G 11:21 AMM Personal Hotspot: 1 Connection instructure-uploads.s3.amazonaws.com -..--_ . PASTINA COMPANY Trial Balance December 31, 2015 Account Title Credits 30,000 40,000 llowance for uncollectible accounts 3,000 1,500 60,000 20,000 Note receivable Interest receivable Prepaid rent Prepaid insurance Equipment 2,000 80,000 30,000 28,000 payable s payable Note payable Interest payable Unearned revenue Common stock Retained earnings Sales revenue Interest revenue Cost of goods sold Wage expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Bad debt expense 50,000 60,000 24,500 148,000 70,000 18,900 11,000 1,100 6,000 3,000 343,500 Totals 343,500

Explanation / Answer

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PASTINA COMPANY   Income Statement   For the year ended December 31, 2015   Revenues     Sales revenue   $148,000   Less: expenses   Cost of goods sold $70,000 Wage expense $18,900 Rent expense $11,000 Supplies expense $ 1,100 Insurance expense $ 6,000 Baddebt expense $ 3,000   Total Expenses   $110,000   Net Income   $ 38,000

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