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 1,700 Accounts Receivable 1,110 Office Supplies 2,040 Equipment 19,530 Accumulated Depreciation--Equipment 1,900 Accounts Payable 910 Interest Payable 940 Notes Payable 3,920 Shawn Cee, Capital 12,430 Shawn Cee, Drawing 500 Service Revenue 15,000 Rent Expense 5,520 Supplies Expense 800 Depreciation Expense--Equipment 1,840 Interest Expense 2,060 Total Single line35,100Double line Single line35,100Double 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 15,000 Subcategory,Expenses: Rent Expense 5,520 Supplies Expense 800 Depreciation Expense--Equipment 1,840 Interest Expense 2,060Single line Total Expenses Single line10,220Single line Net Income Single line4,780Double line