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 1,590 Accounts Receivable 1,030 Office Supplies 1,920 Equipment 19,720 Accumulated Depreciation--Equipment 1,790 Accounts Payable 830 Interest Payable 820 Notes Payable 3,660 Shawn Cee, Capital 12,620 Shawn Cee, Drawing 650 Service Revenue 15,150 Rent Expense 5,260 Supplies Expense 800 Depreciation Expense--Equipment 1,730 Interest Expense 2,170 Total Single line34,870Double line Single line34,870Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,150 Subcategory,Expenses: Rent Expense 5,260 Supplies Expense 800 Depreciation Expense--Equipment 1,730 Interest Expense 2,170Single line Total Expenses Single line9,960Single line Net Income Single line5,190Double 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 12,620 Net Income 5,190Single line Single line17,810 Less Drawing 650 Shawn Cee, Capital Dec. 31, 2017 17,160