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Yes, that is probably the correct way for the earnings to be reported for the services you performed.
From your description this is not self employment income to be reported on Schedule C (with expenses deducted and the net profit subject to SE tax as well as income tax) but rather this is "hobby income" that is properly reported on line 21 as Other Income on 2007 Form 1040
See the article at http://www.irs.gov/newsroom/article/0,,id=172833,00.html Business or Hobby? for more. For tax purposes it is categorized as either a business (for profit, regular and continuous) or a hobby (not for profit, occassional or infrequent).
Hobby expenses are deductible only to the extent of hobby income and are other miscellaneous expenses you itemize on line 23 of Form 1040 Schedule A. Note that total miscellaneous deductions must come to more than 2 percent of your adjusted gross income before you can deduct them. Like any deduction the burden of proof is on the taxpayer in an examination for any amount listed in the tax return.
I hope this helps for reporting your hobby income and expenses.