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 1,620 Accounts Receivable 1,040 Office Supplies 2,080 Equipment 19,680 Accumulated Depreciation--Equipment 1,820 Accounts Payable 840 Interest Payable 980 Notes Payable 2,840 Shawn Cee, Capital 12,580 Shawn Cee, Drawing 700 Service Revenue 15,200 Rent Expense 4,440 Supplies Expense 800 Depreciation Expense--Equipment 1,780 Interest Expense 2,120 Total Single line34,260Double line Single line34,260Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,200 Subcategory,Expenses: Rent Expense 4,440 Supplies Expense 800 Depreciation Expense--Equipment 1,780 Interest Expense 2,120Single line Total Expenses Single line9,140Single line Net Income Single line6,060Double 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 12,580 Net Income 6,060Single line Single line18,640 Less Drawing 700 Shawn Cee, Capital Dec. 31, 2017 17,940