Try another version of this question Shawn’s Tutoring adjusted trial balance follows. Prepare Shawn’s statement of Owner's Equity for the year ended December 31, 2017.
Adjusted Trial Balance
December 31, 2017Accounts Debits Credits Cash 1,680 Accounts Receivable 1,120 Office Supplies 2,080 Equipment 20,730 Accumulated Depreciation--Equipment 1,880 Accounts Payable 920 Interest Payable 980 Notes Payable 4,680 Shawn Cee, Capital 13,630 Shawn Cee, Drawing 610 Service Revenue 15,110 Rent Expense 6,280 Supplies Expense 800 Depreciation Expense--Equipment 1,890 Interest Expense 2,010 Total Single line37,200Double line Single line37,200Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,110 Subcategory,Expenses: Rent Expense 6,280 Supplies Expense 800 Depreciation Expense--Equipment 1,890 Interest Expense 2,010Single line Total Expenses Single line10,980Single line Net Income Single line4,130Double line
Statement of Owner's Equity
For year ending December 31, 2017Description Amount Single line Single line
Statement of Owner's Equity
For year ending December 31, 2017Description Amount Shawn Cee, Capital Jan. 1, 2017 13,630 Net Income 4,130Single line Single line17,760 Less Drawing 610 Shawn Cee, Capital Dec. 31, 2017 17,150