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 1,680 Accounts Receivable 1,160 Office Supplies 2,080 Equipment 19,990 Accumulated Depreciation--Equipment 1,880 Accounts Payable 960 Interest Payable 980 Notes Payable 3,530 Shawn Cee, Capital 12,890 Shawn Cee, Drawing 560 Service Revenue 15,060 Rent Expense 5,130 Supplies Expense 800 Depreciation Expense--Equipment 1,790 Interest Expense 2,110 Total Single line35,300Double line Single line35,300Double 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 15,060 Subcategory,Expenses: Rent Expense 5,130 Supplies Expense 800 Depreciation Expense--Equipment 1,790 Interest Expense 2,110Single line Total Expenses Single line9,830Single line Net Income Single line5,230Double line