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 1,670 Accounts Receivable 1,120 Office Supplies 1,990 Equipment 20,790 Accumulated Depreciation--Equipment 1,870 Accounts Payable 920 Interest Payable 890 Notes Payable 3,150 Shawn Cee, Capital 13,690 Shawn Cee, Drawing 520 Service Revenue 15,020 Rent Expense 4,750 Supplies Expense 800 Depreciation Expense--Equipment 1,780 Interest Expense 2,120 Total Single line35,540Double line Single line35,540Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,020 Subcategory,Expenses: Rent Expense 4,750 Supplies Expense 800 Depreciation Expense--Equipment 1,780 Interest Expense 2,120Single line Total Expenses Single line9,450Single line Net Income Single line5,570Double 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 13,690 Net Income 5,570Single line Single line19,260 Less Drawing 520 Shawn Cee, Capital Dec. 31, 2017 18,740