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 1,530 Accounts Receivable 1,190 Office Supplies 1,970 Equipment 20,780 Accumulated Depreciation--Equipment 1,730 Accounts Payable 990 Interest Payable 870 Notes Payable 3,770 Shawn Cee, Capital 13,680 Shawn Cee, Drawing 600 Service Revenue 15,100 Rent Expense 5,370 Supplies Expense 800 Depreciation Expense--Equipment 1,780 Interest Expense 2,120 Total Single line36,140Double line Single line36,140Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,100 Subcategory,Expenses: Rent Expense 5,370 Supplies Expense 800 Depreciation Expense--Equipment 1,780 Interest Expense 2,120Single line Total Expenses Single line10,070Single line Net Income Single line5,030Double 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 13,680 Net Income 5,030Single line Single line18,710 Less Drawing 600 Shawn Cee, Capital Dec. 31, 2017 18,110