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 1,530 Accounts Receivable 1,120 Office Supplies 2,030 Equipment 20,220 Accumulated Depreciation--Equipment 1,730 Accounts Payable 920 Interest Payable 930 Notes Payable 3,810 Shawn Cee, Capital 13,120 Shawn Cee, Drawing 660 Service Revenue 15,160 Rent Expense 5,410 Supplies Expense 800 Depreciation Expense--Equipment 1,730 Interest Expense 2,170 Total Single line35,670Double line Single line35,670Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,160 Subcategory,Expenses: Rent Expense 5,410 Supplies Expense 800 Depreciation Expense--Equipment 1,730 Interest Expense 2,170Single line Total Expenses Single line10,110Single line Net Income Single line5,050Double 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 5,050Single line Single line18,170 Less Drawing 660 Shawn Cee, Capital Dec. 31, 2017 17,510