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 1,160 Office Supplies 1,970 Equipment 19,500 Accumulated Depreciation--Equipment 1,860 Accounts Payable 960 Interest Payable 870 Notes Payable 3,980 Shawn Cee, Capital 12,400 Shawn Cee, Drawing 630 Service Revenue 15,130 Rent Expense 5,580 Supplies Expense 800 Depreciation Expense--Equipment 1,770 Interest Expense 2,130 Total Single line35,200Double line Single line35,200Double line
Income Statement
For year ending December 31, 2017Description Amount Total Service Revenue 15,130 Subcategory,Expenses: Rent Expense 5,580 Supplies Expense 800 Depreciation Expense--Equipment 1,770 Interest Expense 2,130Single line Total Expenses Single line10,280Single line Net Income Single line4,850Double 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 12,400 Net Income 4,850Single line Single line17,250 Less Drawing 630 Shawn Cee, Capital Dec. 31, 2017 16,620