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 1,560 Accounts Receivable 1,190 Office Supplies 2,030 Equipment 19,840 Accumulated Depreciation--Equipment 1,760 Accounts Payable 990 Interest Payable 930 Notes Payable 4,340 Shawn Cee, Capital 12,740 Shawn Cee, Drawing 510 Service Revenue 15,010 Rent Expense 5,940 Supplies Expense 800 Depreciation Expense--Equipment 1,840 Interest Expense 2,060 Total Single line35,770Double line Single line35,770Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,010 Subcategory,Expenses: Rent Expense 5,940 Supplies Expense 800 Depreciation Expense--Equipment 1,840 Interest Expense 2,060Single line Total Expenses Single line10,640Single line Net Income Single line4,370Double 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 12,740 Net Income 4,370Single line Single line17,110 Less Drawing 510 Shawn Cee, Capital Dec. 31, 2017 16,600