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please answer this questions A, B, C, D and E ACCOUNTING Question 1 (of 1) The following information applies to the questions displayed below] Golf
please answer this questions A, B, C, D and E
ACCOUNTING Question 1 (of 1) The following information applies to the questions displayed below] Golf Academy, Inc., provides private golf lessons. Its un trial balance at December 3, 2015 follows, along with information about selected accounts. Account Names Debit Credit Further Information 31,600 Cash Supplies As reported on December 31 bank statement. 540 Unearned Revenue 317o Based on count, only $170 of supplies stlll exist. of this amount, $2700 was received for December lessons and $470 for January lessons. Salaries and Wages payable n Employees were paid $2,300 for 10 days of work through December 28 They have not yet been paid for work on December 29 and 30. Income Tax Payable o The company has pald last year's Income tax but not this year's tax. o The company has not paid the $105 of interest owed on its note payable for the current period. Interest Payable Note Payable (long-term) 12,600 This one-year note was taken out this year on December 1. Common Stock 1,000 This amount was contributed for common stock in prior years. 2.700 This is the balance reported at the end of last year. Retained Earnings Service Revenue Most customers pay cash for lessons each time they are provided. but some customers pay in advance. 50,570 Salaries and Wages Expense 35,800 Employees worked through December 30, but did not work on December 31 Supplies Expense 2.100 This is the cost of supplies used through November 30 Interest Expense The company has not paid the $105 of interest owed on its note payable for the current period. Income Tax Expense The company has an average tax rate of20% Totals $70,040 70,040 MacBook AirStep by Step Solution
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