Question: Hello, I have a problem in finding the amount for no. 5 (income tax payable and income tax expense) References Required information [The following information

Hello, I have a problem in finding the amount for no. 5 (income tax payable and income tax expense)

Hello, I have a problem in finding the amount for no. 5

References Required information [The following information applies to the questions displayed below] Golf Academy, Inc., provides private golf lessons. Its unadjusted trial balance at December 31, 2018, follows, along with information about selected accounts Acoount Names Cash Supplies Deferred Revenue Salaries and Wages payable Income Tax Payable Interest Payable Notes Payable (longterm) Common Stock Retained Earnings Servlce Revenue Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense Totals Deblt $32,500 720 36,700 3,000 0 0 $72,920 Credit $ 4,160 0 0 0 12,000 1,000 3,600 52,160 $72,920 Further information As reported on December 31 bank statement. Based on count, only $260 of supplies still exist. Of this amount, $3,600 was received for December lessons and $560 for January lessons. Employees were paid $1,600 for 10 days of work through December 28. They have not yet been paid for work on December 29 and 30. The company has paid last year's Income tax but not this year's tax. The company has not paid the $100 of Interest owed on its notes payable for the current period. This one-year note was taken out this year on December 1. This amount was contributed for common stock In prior years. This Is the balance reported at the end of last year. Most customers pay cash for lessons each time they are provided, but some customers pay In advance. Employees worked through December 30, but did not work on December 31. This Is the cost of supplies used through November 30. The company has not paid the $100 of Interest owed on Its notes payable for the current period. The company has an average tax rate of 30%. 2. Name the five pairs of balance sheet and income statement accounts that require adjustment and indicate the amount of adjustment for each pair. 3,600 Salaries and Wages Payable alaries and Wages Expense nterest Payable nterest Expense Check my work A

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