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 1,590 Accounts Receivable 1,030 Office Supplies 1,970 Equipment 20,620 Accumulated Depreciation--Equipment 1,790 Accounts Payable 830 Interest Payable 870 Notes Payable 3,800 Shawn Cee, Capital 13,520 Shawn Cee, Drawing 680 Service Revenue 15,180 Rent Expense 5,400 Supplies Expense 800 Depreciation Expense--Equipment 1,850 Interest Expense 2,050 Total Single line35,990Double line Single line35,990Double 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 15,180 Subcategory,Expenses: Rent Expense 5,400 Supplies Expense 800 Depreciation Expense--Equipment 1,850 Interest Expense 2,050Single line Total Expenses Single line10,100Single line Net Income Single line5,080Double line