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 1,500 Accounts Receivable 1,140 Office Supplies 2,100 Equipment 20,770 Accumulated Depreciation--Equipment 1,700 Accounts Payable 940 Interest Payable 1,000 Notes Payable 3,490 Shawn Cee, Capital 13,670 Shawn Cee, Drawing 640 Service Revenue 15,140 Rent Expense 5,090 Supplies Expense 800 Depreciation Expense--Equipment 1,700 Interest Expense 2,200 Total Single line35,940Double line Single line35,940Double 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 5,090 Supplies Expense 800 Depreciation Expense--Equipment 1,700 Interest Expense 2,200Single line Total Expenses Single line9,790Single line Net Income Single line5,350Double line