Abdullah sees that two people who major in information technology Quizlet

CP4-4 Identifying and Preparing Adjusting Journal Entries (LO 4-1, LO 4-2, LO 4-3, LO 4-6) (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. Credit Account Names Cash Supplies Deferred Revenue Debit $31,800 580 $ 2,390 Salaries and Wages payable 0 Income Tax Payable 0 Interest Payable 0 Notes Payable (long-term) Common Stock 15,000 1,000 Purther Information As reported on December 31 bank statement. Based on count, only $190 of supplies still exist. of this amount, $1,900 was received for December lessons and $490 for January lessons. Employees were paid $2,100 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 $125 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 $125 of interest owed on its notes payable for the current period. The company has an average tax rate of 200. Retained Earnings Service Revenue 2,900 49,390 Salaries and Wages Expense 36,000 2,300 Supplies Expense Interest Expense Income Tax Expense Totals $70,680 $70,680 4-a. Calculate the adjusted net income that the company should report for the year ended December 31, 2018 4-b. By what dollar amount did the adjustments in requirement 3 cause net income to increase or decrease? Complete this question by entering your answers in the tabs below. Req 4a Req 4b Calculate the adjusted net income that the company should report for the year ended December 31, 2018. GOLF ACADEMY, INC. Income Statement For the Year Ended December 31, 2018 Revenues Service Revenue 52,290 Total Revenues 4-a. Calculate the adjusted net income that the company should report for the year ended December 31, 2018. 4-b. By what dollar amount did the adjustments in requirement 3 cause net income to increase or decrease? Complete this question by entering your answers in the tabs below. Req 4a Req 4b By what dollar amount did the adjustments in requirement 3 cause net income to increase or decrease? Net income