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 1,600 Accounts Receivable 1,110 Office Supplies 2,100 Equipment 20,590 Accumulated Depreciation--Equipment 1,800 Accounts Payable 910 Interest Payable 1,000 Notes Payable 4,490 Shawn Cee, Capital 13,490 Shawn Cee, Drawing 560 Service Revenue 15,060 Rent Expense 6,090 Supplies Expense 800 Depreciation Expense--Equipment 1,710 Interest Expense 2,190 Total Single line36,750Double line Single line36,750Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,060 Subcategory,Expenses: Rent Expense 6,090 Supplies Expense 800 Depreciation Expense--Equipment 1,710 Interest Expense 2,190Single line Total Expenses Single line10,790Single line Net Income Single line4,270Double 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 13,490 Net Income 4,270Single line Single line17,760 Less Drawing 560 Shawn Cee, Capital Dec. 31, 2017 17,200