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 1,660 Accounts Receivable 1,130 Office Supplies 2,070 Equipment 19,240 Accumulated Depreciation--Equipment 1,860 Accounts Payable 930 Interest Payable 970 Notes Payable 3,630 Shawn Cee, Capital 12,140 Shawn Cee, Drawing 570 Service Revenue 15,070 Rent Expense 5,230 Supplies Expense 800 Depreciation Expense--Equipment 1,790 Interest Expense 2,110 Total Single line34,600Double line Single line34,600Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,070 Subcategory,Expenses: Rent Expense 5,230 Supplies Expense 800 Depreciation Expense--Equipment 1,790 Interest Expense 2,110Single line Total Expenses Single line9,930Single line Net Income Single line5,140Double 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 12,140 Net Income 5,140Single line Single line17,280 Less Drawing 570 Shawn Cee, Capital Dec. 31, 2017 16,710