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 1,560 Accounts Receivable 1,110 Office Supplies 1,950 Equipment 20,130 Accumulated Depreciation--Equipment 1,760 Accounts Payable 910 Interest Payable 850 Notes Payable 2,700 Shawn Cee, Capital 13,030 Shawn Cee, Drawing 640 Service Revenue 15,140 Rent Expense 4,300 Supplies Expense 800 Depreciation Expense--Equipment 1,820 Interest Expense 2,080 Total Single line34,390Double line Single line34,390Double 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 15,140 Subcategory,Expenses: Rent Expense 4,300 Supplies Expense 800 Depreciation Expense--Equipment 1,820 Interest Expense 2,080Single line Total Expenses Single line9,000Single line Net Income Single line6,140Double line