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 1,190 Office Supplies 1,930 Equipment 19,440 Accumulated Depreciation--Equipment 1,700 Accounts Payable 990 Interest Payable 830 Notes Payable 4,610 Shawn Cee, Capital 12,340 Shawn Cee, Drawing 530 Service Revenue 15,030 Rent Expense 6,210 Supplies Expense 800 Depreciation Expense--Equipment 1,900 Interest Expense 2,000 Total Single line35,500Double line Single line35,500Double 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 15,030 Subcategory,Expenses: Rent Expense 6,210 Supplies Expense 800 Depreciation Expense--Equipment 1,900 Interest Expense 2,000Single line Total Expenses Single line10,910Single line Net Income Single line4,120Double line