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 1,580 Accounts Receivable 1,120 Office Supplies 2,050 Equipment 20,780 Accumulated Depreciation--Equipment 1,780 Accounts Payable 920 Interest Payable 950 Notes Payable 3,210 Shawn Cee, Capital 13,680 Shawn Cee, Drawing 670 Service Revenue 15,170 Rent Expense 4,810 Supplies Expense 800 Depreciation Expense--Equipment 1,750 Interest Expense 2,150 Total Single line35,710Double line Single line35,710Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,170 Subcategory,Expenses: Rent Expense 4,810 Supplies Expense 800 Depreciation Expense--Equipment 1,750 Interest Expense 2,150Single line Total Expenses Single line9,510Single line Net Income Single line5,660Double 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 13,680 Net Income 5,660Single line Single line19,340 Less Drawing 670 Shawn Cee, Capital Dec. 31, 2017 18,670