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 1,620 Accounts Receivable 1,060 Office Supplies 1,920 Equipment 19,350 Accumulated Depreciation--Equipment 1,820 Accounts Payable 860 Interest Payable 820 Notes Payable 4,380 Shawn Cee, Capital 12,250 Shawn Cee, Drawing 620 Service Revenue 15,120 Rent Expense 5,980 Supplies Expense 800 Depreciation Expense--Equipment 1,840 Interest Expense 2,060 Total Single line35,250Double line Single line35,250Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,120 Subcategory,Expenses: Rent Expense 5,980 Supplies Expense 800 Depreciation Expense--Equipment 1,840 Interest Expense 2,060Single line Total Expenses Single line10,680Single line Net Income Single line4,440Double 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 12,250 Net Income 4,440Single line Single line16,690 Less Drawing 620 Shawn Cee, Capital Dec. 31, 2017 16,070