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 1,610 Accounts Receivable 1,120 Office Supplies 1,940 Equipment 20,500 Accumulated Depreciation--Equipment 1,810 Accounts Payable 920 Interest Payable 840 Notes Payable 3,280 Shawn Cee, Capital 13,400 Shawn Cee, Drawing 700 Service Revenue 15,200 Rent Expense 4,880 Supplies Expense 800 Depreciation Expense--Equipment 1,770 Interest Expense 2,130 Total Single line35,450Double line Single line35,450Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,200 Subcategory,Expenses: Rent Expense 4,880 Supplies Expense 800 Depreciation Expense--Equipment 1,770 Interest Expense 2,130Single line Total Expenses Single line9,580Single line Net Income Single line5,620Double 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 13,400 Net Income 5,620Single line Single line19,020 Less Drawing 700 Shawn Cee, Capital Dec. 31, 2017 18,320