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 1,570 Accounts Receivable 1,190 Office Supplies 2,080 Equipment 19,970 Accumulated Depreciation--Equipment 1,770 Accounts Payable 990 Interest Payable 980 Notes Payable 3,510 Shawn Cee, Capital 12,870 Shawn Cee, Drawing 500 Service Revenue 15,000 Rent Expense 5,110 Supplies Expense 800 Depreciation Expense--Equipment 1,880 Interest Expense 2,020 Total Single line35,120Double line Single line35,120Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,000 Subcategory,Expenses: Rent Expense 5,110 Supplies Expense 800 Depreciation Expense--Equipment 1,880 Interest Expense 2,020Single line Total Expenses Single line9,810Single line Net Income Single line5,190Double 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 12,870 Net Income 5,190Single line Single line18,060 Less Drawing 500 Shawn Cee, Capital Dec. 31, 2017 17,560