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 1,150 Office Supplies 2,030 Equipment 20,250 Accumulated Depreciation--Equipment 1,900 Accounts Payable 950 Interest Payable 930 Notes Payable 2,940 Shawn Cee, Capital 13,150 Shawn Cee, Drawing 550 Service Revenue 15,050 Rent Expense 4,540 Supplies Expense 800 Depreciation Expense--Equipment 1,890 Interest Expense 2,010 Total Single line34,920Double line Single line34,920Double 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 15,050 Subcategory,Expenses: Rent Expense 4,540 Supplies Expense 800 Depreciation Expense--Equipment 1,890 Interest Expense 2,010Single line Total Expenses Single line9,240Single line Net Income Single line5,810Double line