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 1,200 Office Supplies 1,930 Equipment 19,010 Accumulated Depreciation--Equipment 1,760 Accounts Payable 1,000 Interest Payable 830 Notes Payable 3,350 Shawn Cee, Capital 11,910 Shawn Cee, Drawing 650 Service Revenue 15,150 Rent Expense 4,950 Supplies Expense 800 Depreciation Expense--Equipment 1,810 Interest Expense 2,090 Total Single line34,000Double line Single line34,000Double 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 15,150 Subcategory,Expenses: Rent Expense 4,950 Supplies Expense 800 Depreciation Expense--Equipment 1,810 Interest Expense 2,090Single line Total Expenses Single line9,650Single line Net Income Single line5,500Double line