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 1,700 Accounts Receivable 1,160 Office Supplies 2,090 Equipment 19,040 Accumulated Depreciation--Equipment 1,900 Accounts Payable 960 Interest Payable 990 Notes Payable 3,450 Shawn Cee, Capital 11,940 Shawn Cee, Drawing 570 Service Revenue 15,070 Rent Expense 5,050 Supplies Expense 800 Depreciation Expense--Equipment 1,760 Interest Expense 2,140 Total Single line34,310Double line Single line34,310Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,070 Subcategory,Expenses: Rent Expense 5,050 Supplies Expense 800 Depreciation Expense--Equipment 1,760 Interest Expense 2,140Single line Total Expenses Single line9,750Single line Net Income Single line5,320Double 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 11,940 Net Income 5,320Single line Single line17,260 Less Drawing 570 Shawn Cee, Capital Dec. 31, 2017 16,690