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 1,500 Accounts Receivable 1,190 Office Supplies 1,970 Equipment 18,970 Accumulated Depreciation--Equipment 1,700 Accounts Payable 990 Interest Payable 870 Notes Payable 4,600 Shawn Cee, Capital 11,870 Shawn Cee, Drawing 640 Service Revenue 15,140 Rent Expense 6,200 Supplies Expense 800 Depreciation Expense--Equipment 1,850 Interest Expense 2,050 Total Single line35,170Double line Single line35,170Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,140 Subcategory,Expenses: Rent Expense 6,200 Supplies Expense 800 Depreciation Expense--Equipment 1,850 Interest Expense 2,050Single line Total Expenses Single line10,900Single line Net Income Single line4,240Double 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 11,870 Net Income 4,240Single line Single line16,110 Less Drawing 640 Shawn Cee, Capital Dec. 31, 2017 15,470