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 1,630 Accounts Receivable 1,190 Office Supplies 2,010 Equipment 20,410 Accumulated Depreciation--Equipment 1,830 Accounts Payable 990 Interest Payable 910 Notes Payable 3,160 Shawn Cee, Capital 13,310 Shawn Cee, Drawing 540 Service Revenue 15,040 Rent Expense 4,760 Supplies Expense 800 Depreciation Expense--Equipment 1,900 Interest Expense 2,000 Total Single line35,240Double line Single line35,240Double 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 15,040 Subcategory,Expenses: Rent Expense 4,760 Supplies Expense 800 Depreciation Expense--Equipment 1,900 Interest Expense 2,000Single line Total Expenses Single line9,460Single line Net Income Single line5,580Double line