2 3 MARCH 4 Restaurant revenue generated $ 45,000 5 Restaurant revenue received S 30,000 6 Cost of food sold S 14,000 7 Percent of cost of food paid to supplier 60% 8 Salaries and wages incurred S 13,000 9 Percent of salaries and wages paid 50% 10 Utilities expense incurred and paid S 600 11 Prepaid maintenance expense incurred (paid for in January) S 12 Marketing expense incurred and paid 200 S 450 13 Rent expense incurred and paid S 6,000 14 15 Lisa's Accrual Accounting (S) Laura's Cash Accounting ($) 16 17 REVENUE 18 19 EXPENSES 20 Cost of Food Sold 21 Salaries and Wages 22 Utilities 23 Maintenance 24 Marketing 25 Rent 26 27 NET PROFIT OR (LOSS) 22 28