Question: Someone show me how to get this amount? Required information [The following information applies to the questions displayed below Golf Academy, Inc., provides private golf
Someone show me how to get this amount?
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 Debit $32,100 640 Credit Further Information Account Names Cash Supplies Deferred Revenue As reported on December 31 bank statement Salaries and Wages payable Income Tax Payable Interest Payable $ 3,720 Of this amount, $3,200 was received for December lessons and $520 0 Employees were paid $1,200 for 10 days of work through December 0 The company has paid last year's income tax but not this year s 0 The company has not paid the $110 of interest owed on its notes Based on count, only $220 of supplies still exist for January lessons 28. They have not yet been paid for work on December 29 and 30 tax. payable for the current period Notes Payable (long-term) Common Stock Retained Earnings Service Revenue 13,200 This one-year note was taken out this year on December 1. 1,000 This amount was contributed for common stock in prior years 3,200 This is the balance reported at the end of last year 50,520 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 $110 of interest owed on its notes payable for the current period The company has an average tax rate of 30% Salaries and Wages Expense 36,300 Supplies Expense Interest Expense 2,600 ncome Tax Expense Totals $71,640 $71,640 2. Name the five pairs of balance sheet and income statement accounts that require adjustment and indicate the amount of adjustment for each pair. Answer is complete but not entirely correct. Ad (1) Salaries and Wages Payable (2) Income Tax Payable (3) Interest Payable (4) Supplies (5) Deferred Revenue Balance sheet account Related income statement account Salaries and Wages Expense Income Tax Expense Interest Expense Supplies Expense Amount 240 110 420 ,200 Service Revenue
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