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 1,530 Accounts Receivable 1,200 Office Supplies 1,970 Equipment 18,960 Accumulated Depreciation--Equipment 1,730 Accounts Payable 1,000 Interest Payable 870 Notes Payable 4,700 Shawn Cee, Capital 11,860 Shawn Cee, Drawing 580 Service Revenue 15,080 Rent Expense 6,300 Supplies Expense 800 Depreciation Expense--Equipment 1,750 Interest Expense 2,150 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 15,080 Subcategory,Expenses: Rent Expense 6,300 Supplies Expense 800 Depreciation Expense--Equipment 1,750 Interest Expense 2,150Single line Total Expenses Single line11,000Single line Net Income Single line4,080Double line