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Shawn’s Tutoring adjusted trial balance follows.

SHAWN's TUTORING
Adjusted Trial Balance
December 31, 2017
AccountsDebitsCredits
Cash1,590
Accounts Receivable1,030
Office Supplies1,920
Equipment19,720
Accumulated Depreciation--Equipment1,790
Accounts Payable830
Interest Payable820
Notes Payable3,660
Shawn Cee, Capital12,620
Shawn Cee, Drawing650
Service Revenue15,150
Rent Expense5,260
Supplies Expense800
Depreciation Expense--Equipment1,730
Interest Expense2,170
TotalSingle line34,870Double lineSingle line34,870Double line

 

SHAWN'S TUTORING
Income Statement
For year ending December 31, 2017
DescriptionAmountTotal
Service Revenue15,150
Subcategory,Expenses:
Rent Expense5,260
Supplies Expense800
Depreciation Expense--Equipment1,730
Interest Expense2,170Single line
Total ExpensesSingle line9,960Single line
Net IncomeSingle line5,190Double line

 

Prepare Shawn’s statement of Owner's Equity for the year ended December 31, 2017.

Shawn's Tutoring
Statement of Owner's Equity
For year ending December 31, 2017
DescriptionAmount
Single line
Single line

 


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