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 1,170 Office Supplies 1,910 Equipment 19,850 Accumulated Depreciation--Equipment 1,860 Accounts Payable 970 Interest Payable 810 Notes Payable 2,890 Shawn Cee, Capital 12,750 Shawn Cee, Drawing 650 Service Revenue 15,150 Rent Expense 4,490 Supplies Expense 800 Depreciation Expense--Equipment 1,850 Interest Expense 2,050 Total Single line34,430Double line Single line34,430Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,150 Subcategory,Expenses: Rent Expense 4,490 Supplies Expense 800 Depreciation Expense--Equipment 1,850 Interest Expense 2,050Single line Total Expenses Single line9,190Single line Net Income Single line5,960Double 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 12,750 Net Income 5,960Single line Single line18,710 Less Drawing 650 Shawn Cee, Capital Dec. 31, 2017 18,060