Try another version of this question Shawn’s Tutoring adjusted trial balance follows. Prepare Shawn’s income statement for the year ended December 31, 2017.
Adjusted Trial Balance
December 31, 2017Accounts Debits Credits Cash 1,610 Accounts Receivable 1,080 Office Supplies 1,940 Equipment 19,790 Accumulated Depreciation--Equipment 1,810 Accounts Payable 880 Interest Payable 840 Notes Payable 4,320 Shawn Cee, Capital 12,690 Shawn Cee, Drawing 610 Service Revenue 15,110 Rent Expense 5,920 Supplies Expense 800 Depreciation Expense--Equipment 1,850 Interest Expense 2,050 Total Single line35,650Double line Single line35,650Double line
Income Statement
For year ending December 31, 2017Description Amount Total Subcategory,Expenses: Single line Total Expenses Single lineSingle line Net Income Single lineDouble line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,110 Subcategory,Expenses: Rent Expense 5,920 Supplies Expense 800 Depreciation Expense--Equipment 1,850 Interest Expense 2,050Single line Total Expenses Single line10,620Single line Net Income Single line4,490Double line