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 1,580 Accounts Receivable 1,200 Office Supplies 2,010 Equipment 19,340 Accumulated Depreciation--Equipment 1,780 Accounts Payable 1,000 Interest Payable 910 Notes Payable 3,270 Shawn Cee, Capital 12,240 Shawn Cee, Drawing 610 Service Revenue 15,110 Rent Expense 4,870 Supplies Expense 800 Depreciation Expense--Equipment 1,760 Interest Expense 2,140 Total Single line34,310Double line Single line34,310Double 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 4,870 Supplies Expense 800 Depreciation Expense--Equipment 1,760 Interest Expense 2,140Single line Total Expenses Single line9,570Single line Net Income Single line5,540Double line