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Shawn’s Tutoring adjusted trial balance follows.

SHAWN's TUTORING
Adjusted Trial Balance
December 31, 2017
AccountsDebitsCredits
Cash1,540
Accounts Receivable1,070
Office Supplies1,990
Equipment19,830
Accumulated Depreciation--Equipment1,740
Accounts Payable870
Interest Payable890
Notes Payable3,230
Shawn Cee, Capital12,730
Shawn Cee, Drawing640
Service Revenue15,140
Rent Expense4,830
Supplies Expense800
Depreciation Expense--Equipment1,830
Interest Expense2,070
TotalSingle line34,600Double lineSingle line34,600Double line

 

SHAWN'S TUTORING
Income Statement
For year ending December 31, 2017
DescriptionAmountTotal
Service Revenue15,140
Subcategory,Expenses:
Rent Expense4,830
Supplies Expense800
Depreciation Expense--Equipment1,830
Interest Expense2,070Single line
Total ExpensesSingle line9,530Single line
Net IncomeSingle line5,610Double line

 

Prepare Shawn’s statement of Owner's Equity for the year ended December 31, 2017.

Shawn's Tutoring
Statement of Owner's Equity
For year ending December 31, 2017
DescriptionAmount
Single line
Single line