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 1,680 Accounts Receivable 1,010 Office Supplies 1,910 Equipment 20,610 Accumulated Depreciation--Equipment 1,880 Accounts Payable 810 Interest Payable 810 Notes Payable 2,970 Shawn Cee, Capital 13,510 Shawn Cee, Drawing 600 Service Revenue 15,100 Rent Expense 4,570 Supplies Expense 800 Depreciation Expense--Equipment 1,860 Interest Expense 2,040 Total Single line35,080Double line Single line35,080Double 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 15,100 Subcategory,Expenses: Rent Expense 4,570 Supplies Expense 800 Depreciation Expense--Equipment 1,860 Interest Expense 2,040Single line Total Expenses Single line9,270Single line Net Income Single line5,830Double line