2 Cash vs Accrual Method (Obj 1) Lis is a self employed CPA She wants to know how reporting each of the following items would differ under the cash method versus the accrual method each method If there is no amount to be reported, enter 0 In the space provided , enter the correct amount that would be reported on Schedule C under Cash Method Accrual Method $ a Repaid loan at bank Principal $1,000 60 Interest 1,000 b Paid contribution pledged to church 150 Paid for supplies used last year 850 d Paid for supplies used during current year e Paid two year subscription for professional journals on January 1 200 f Supplies not used during current year and not yet paid for 40 g Paid for a new computer 1,564

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2  Cash vs  Accrual Method  (Obj  1) Lis is a self employed CPA  She wants to know how reporting each of the following items would differ under the cash method versus the accrual method  each method  If there is no amount to be reported, enter 0  In the space provided , enter the correct amount that would be reported on Schedule C under Cash Method Accrual Method $ a  Repaid loan at bank  Principal $1,000 60 Interest 1,000 b  Paid contribution pledged to church 150 Paid for supplies used last year 850 d  Paid for supplies used during current year e  Paid two year subscription for professional journals on January 1 200 f  Supplies not used during current year and not yet paid for 40 g  Paid for a new computer 1,564

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2. Cash vs. Accrual Method. (Obj. 1) Lis is a self-employed CPA. She wants to know how reporting each of the following items would differ

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