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 1,680 Accounts Receivable 1,160 Office Supplies 1,910 Equipment 20,220 Accumulated Depreciation--Equipment 1,880 Accounts Payable 960 Interest Payable 810 Notes Payable 4,240 Shawn Cee, Capital 13,120 Shawn Cee, Drawing 650 Service Revenue 15,150 Rent Expense 5,840 Supplies Expense 800 Depreciation Expense--Equipment 1,740 Interest Expense 2,160 Total Single line36,160Double line Single line36,160Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,150 Subcategory,Expenses: Rent Expense 5,840 Supplies Expense 800 Depreciation Expense--Equipment 1,740 Interest Expense 2,160Single line Total Expenses Single line10,540Single line Net Income Single line4,610Double 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 13,120 Net Income 4,610Single line Single line17,730 Less Drawing 650 Shawn Cee, Capital Dec. 31, 2017 17,080