The following information applies to the questions displayed below provides private golflessons. Its unadjusted trial balance at December 31, 2018,follows, along with information about selected accounts. Account Names Debit Credit Further Information Cash Supplies Deferred Revenue Salaries and Wages payable $31,300 480 As reported on December 31 bank statement. 2,840 of this amount, $2,400 was received for December lessons and 0 Employees were paid $2,600 for 10 days of work through Based on count, only $140 of supplies still exist. $440 for January lessons. December 28. They have not yet been paid for work or December 29 and 30. year’s tax. notes payable for the current period. Income Tax Payable e The company has paid last yean’s income tax but not this 0 The company Has not paid the $120 of interest owed on its Interest Payable Notes Payable 14,400 This one-year note was taken out this year on December 1. (long-term) Common Stock Retained 1,000 This amount was contributed for common stock in prior years. 2,400 This is the balance reported at the end of last year Earnings Service Revenue 48,440 Most customers pay cash for lessons each time they are Salaries and35,500 Wages Expense Supplies 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. 1,800 ãPrev 6708 , sof9â…¢ Next >
Required: 1. Prepare the (preliminary) unadjusted net income statement for the year ended December 31, 2018 GOLF ACADEMY, INC. Unadjusted Income Statement 6 7c8, 9 of 9 Ill Next > ã Prev
Struggling with your classes?
We can take your online class, write your essays do your homework,
take your quizzes, and do discussion boards for you.
Our prices are relatively friendly and we guarantee grade A or B in your online class.
All our services are secure, private and confidential. Chat with us Today to Learn More.