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Required information The following information applies to the questions displayed below Learn to Play, Inc. is a one person company that provides the lessons industed

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Required information The following information applies to the questions displayed below Learn to Play, Inc. is a one person company that provides the lessons industed be at December 31, 2018, follows, along with information about selected accounts Account Names Debt Cash Credit further information 124,700 Supplies 390 As reported on December bank statent. Deferred Revenue Based on count, ty 5245 of splittet 5.1.500 of this amount. 5500 was received for December fessons Salaries and Wes Payable 51,00 for January lessons The employee aid for todays of the December 29. She has not yet be 1010 for wat December 31 Income Tax Payable The company has paid Last years in contact year's taxes Interest Payable a The company has not paid the $115 of interest Notes Payable 13,800 notes payable for the current per This one-year tewas taken out this year Common Stock 1.000 This amount was contributed for con stock in par years. Retained Earnings This is the balance reported at the end of last year Service Revenue 24,690 Most cuiters pay cash for lessons each they provided, but some customers pay in advance Salaries and Wages Expense The company's employee world through December Supplies Expense This is the cost of supplies used through everer 10. Interest Expense The company has not paid the $115 ofterest notes payable for the current perso Income Tax Expense The company has an average tax rate of 29. $44,90 $44.982 Totats 3.ee 19,000 890 4-a. Prepare the final income statement for the company as of 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? Accounts Cash Supplies Deferred Reve Salaries and Wages Payable Income Tax Payable Interest Payable Notes Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense Totals Debit Credit Further info $74.00 As reported on Decora statent 190 Based on count, only $245 of west 11, of this anti 50 was received for center lesson 51,00 for January They was paid for 1 days of work the December 29. She has not yet be paid for work December and The company has said last year's income tax but at this year's taxes the company has not paid the $115 61 interested its notes able for the current period, 13, This one-year note was taken out this year on December 1. 1,400 This mount was contributed for common stock in prior years. 3.900 this is the balance reported at the end of last year. 24,690 Most customers pay cash for lessons each time they are provided, but some customers pay in advance 15,000 The company's employee worked through December 31 This is the cost of oplies used through November 3. The company has not paid the $115 of rest owes notes payable for the current period. The company has an average tax rate of Jo. 544,950 $44,980 4-a. Prepare the final income statement for the company as of the year ended December 31, 2018 4-6. By what dolor amount did the adjustments in requirement cause net income to increase or decrease? Complete this question by entering your answers in the tabs below. Rest R46 Prepare the final income statement for the company as of the year ended December 31, 2018 LEV Learn to Play, Inc., is a one person company that provides private plano lessons. Its unadjusted trial balance at December 31, 2018, follows, along with information about selected accounts Account Names Debit Credit Further Information Cash 524,700 As reported on December 31 bank statement. Supplies 390 Based on count. only 5245 of supplies still exist. Deferred Revenue $ 1.598 of this, was received for December lessons and Salaries and Wages Payable $1.cee for January lessons. The employee was paid $500 for 10 days of work through December 29. She has not yet been paid for work on December 30 and 31. Income Tax Payable The company has paid last year's income tax but not this year's taxes. Interest Payable The company has not paid the $115 of interest owed on its notes payable for the current period. Notes Payable 13,800 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. Retained Earnings 3,900 This is the balance reported at the end of last year. Service Reverse 24,690 Most customers pay cash for lessons each time they are provided, but some customers pay in advance. Salaries and ages Expense 19.000 The company's employee worked through December 31. Supplies Expense 890 This is the cost of supplies used through Novesber 30. Interest Expense The company has not paid the sins of interest owed on its notes payable for the current period. Income Tax Expense The company has an average tax rate of 34. Totats $44,980 544,980

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