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 1,640 Accounts Receivable 1,020 Office Supplies 1,920 Equipment 18,910 Accumulated Depreciation--Equipment 1,840 Accounts Payable 820 Interest Payable 820 Notes Payable 4,400 Shawn Cee, Capital 11,810 Shawn Cee, Drawing 630 Service Revenue 15,130 Rent Expense 6,000 Supplies Expense 800 Depreciation Expense--Equipment 1,890 Interest Expense 2,010 Total Single line34,820Double line Single line34,820Double 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 15,130 Subcategory,Expenses: Rent Expense 6,000 Supplies Expense 800 Depreciation Expense--Equipment 1,890 Interest Expense 2,010Single line Total Expenses Single line10,700Single line Net Income Single line4,430Double line