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 1,600 Accounts Receivable 1,040 Office Supplies 1,940 Equipment 20,250 Accumulated Depreciation--Equipment 1,800 Accounts Payable 840 Interest Payable 840 Notes Payable 3,980 Shawn Cee, Capital 13,150 Shawn Cee, Drawing 600 Service Revenue 15,100 Rent Expense 5,580 Supplies Expense 800 Depreciation Expense--Equipment 1,800 Interest Expense 2,100 Total Single line35,710Double line Single line35,710Double 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 15,100 Subcategory,Expenses: Rent Expense 5,580 Supplies Expense 800 Depreciation Expense--Equipment 1,800 Interest Expense 2,100Single line Total Expenses Single line10,280Single line Net Income Single line4,820Double line