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 1,540 Accounts Receivable 1,070 Office Supplies 1,990 Equipment 19,830 Accumulated Depreciation--Equipment 1,740 Accounts Payable 870 Interest Payable 890 Notes Payable 3,230 Shawn Cee, Capital 12,730 Shawn Cee, Drawing 640 Service Revenue 15,140 Rent Expense 4,830 Supplies Expense 800 Depreciation Expense--Equipment 1,830 Interest Expense 2,070 Total Single line34,600Double line Single line34,600Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,140 Subcategory,Expenses: Rent Expense 4,830 Supplies Expense 800 Depreciation Expense--Equipment 1,830 Interest Expense 2,070Single line Total Expenses Single line9,530Single line Net Income Single line5,610Double 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 12,730 Net Income 5,610Single line Single line18,340 Less Drawing 640 Shawn Cee, Capital Dec. 31, 2017 17,700