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 1,660 Accounts Receivable 1,140 Office Supplies 2,090 Equipment 20,440 Accumulated Depreciation--Equipment 1,860 Accounts Payable 940 Interest Payable 990 Notes Payable 3,520 Shawn Cee, Capital 13,340 Shawn Cee, Drawing 690 Service Revenue 15,190 Rent Expense 5,120 Supplies Expense 800 Depreciation Expense--Equipment 1,820 Interest Expense 2,080 Total Single line35,840Double line Single line35,840Double 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 15,190 Subcategory,Expenses: Rent Expense 5,120 Supplies Expense 800 Depreciation Expense--Equipment 1,820 Interest Expense 2,080Single line Total Expenses Single line9,820Single line Net Income Single line5,370Double line