2. Lisa and Laura are twins who own a seafood restaurant in a coastal town. Lisa likes to report her income statement using accrual accounting, and Laura likes to report her income statement using cash accounting. Given the following information, complete the spreadsheet below for March using both accrual accounting for Lisa and cash account ing for Laura The Regenerated $65.00 butid 50.000 Coat of food old 1000, but only paid to the applict Salaries and we were SISOO, but only a poco Utilities cxpenses S600 and all of it was paid Maintenance expenses, but it had been prepaid in January for the quarter. Marketing expenses $150 and all of it was paid. Rent expenses and all of it was paid Laura's Cash Accounting Los Acerval Accounting (5) REVENUE EXPENSES Cost of Food Solid Salaries and Wago Ult Maintenance Marketing Rent NET PROFIT OR (LOSS) Which accounting method. Les accrual scotanting or Izara's cash accounting, shows a higher net profile b. Which accounting method shows the most accurate amount of money on hand to pay bills Which accounting method most accurately show the revenues generated regardless of when they were received 4. Which accounting method most accurately shows the expenses incurred regardless of when they were paid e. Which accounting method most accurately shows actual cash inflows and outflows? 1. Which accounting method show the most accurate reflection of their restaurant's true profitability? 3. Stephanie Martinet opened a Latin Fusion restaurant dontitown in a large southern city. She has asked you, her accountant to complete the accounting equations for some of her first month's transactions. Complete the account equations below (Spreadsheet hinc If you need to record to transactions in one cell, use Alt Enter after the first number to com to the next line within the same cell) The rescatan started with a $1,200,000 check from its owner. Suephanie Liabilities Revenue- Expenses AND Omessequity . The restaurant generated revenues of $5000 on accounts receivable, Aco Liabilis Owness equiry Stephanie purchased a $400,000 building with $40,000 cash and a $360,000 mortgage. Anes Labditis Owners' equity Revenue - Revenue - Expenses Expenses Test Your Ski 55 Space the Accounting Dans meter 510.000 worth of pillow to make an effort topgrade i prowity gunstroom Dow the IRS ha determined the whole of the type of purchase to be five years, and a the end of the time period, Dan the age of the wedding will be to Dan wants to know the the wilde decision the impact on the balance sheet of the and the the righe depreciation method to help fim, complete the depreciation whedule Dan Stroncine Depreciation Expense Amount Balance sheet Value Year 1 3 50.00 5 Kamparchased tullale in a sorters with 5600,000 of her own money. Helpler prepare Teracount for her first month of operations wing the information prended below. med $600.000 cash in the net polit Cash Om Egy repaid h. parchased 50 in food, of which is to be paid next month accountabile) Ford Inventory Account Pay y? dou, her mbro . kuwi persed 510.000 in temur, all teceed in canl 1. Kami pallier employees this month widi all cheche (cab Cash Adrede parchased a small vide moielin April with the libertrance money he received from his wealdean Hep his person for his fint of operations in die Information provided below dans med 500.000 in the Cash Owner 2. Lisa and Laura are twins who own a seafood restaurant in a coastal town. Lisa likes to report her income statement using accrual accounting, and Laura likes to report her income statement using cash accounting. Given the following information, complete the spreadsheet below for March using both accrual accounting for Lisa and cash account ing for Laura The Regenerated $65.00 butid 50.000 Coat of food old 1000, but only paid to the applict Salaries and we were SISOO, but only a poco Utilities cxpenses S600 and all of it was paid Maintenance expenses, but it had been prepaid in January for the quarter. Marketing expenses $150 and all of it was paid. Rent expenses and all of it was paid Laura's Cash Accounting Los Acerval Accounting (5) REVENUE EXPENSES Cost of Food Solid Salaries and Wago Ult Maintenance Marketing Rent NET PROFIT OR (LOSS) Which accounting method. Les accrual scotanting or Izara's cash accounting, shows a higher net profile b. Which accounting method shows the most accurate amount of money on hand to pay bills Which accounting method most accurately show the revenues generated regardless of when they were received 4. Which accounting method most accurately shows the expenses incurred regardless of when they were paid e. Which accounting method most accurately shows actual cash inflows and outflows? 1. Which accounting method show the most accurate reflection of their restaurant's true profitability? 3. Stephanie Martinet opened a Latin Fusion restaurant dontitown in a large southern city. She has asked you, her accountant to complete the accounting equations for some of her first month's transactions. Complete the account equations below (Spreadsheet hinc If you need to record to transactions in one cell, use Alt Enter after the first number to com to the next line within the same cell) The rescatan started with a $1,200,000 check from its owner. Suephanie Liabilities Revenue- Expenses AND Omessequity . The restaurant generated revenues of $5000 on accounts receivable, Aco Liabilis Owness equiry Stephanie purchased a $400,000 building with $40,000 cash and a $360,000 mortgage. Anes Labditis Owners' equity Revenue - Revenue - Expenses Expenses Test Your Ski 55 Space the Accounting Dans meter 510.000 worth of pillow to make an effort topgrade i prowity gunstroom Dow the IRS ha determined the whole of the type of purchase to be five years, and a the end of the time period, Dan the age of the wedding will be to Dan wants to know the the wilde decision the impact on the balance sheet of the and the the righe depreciation method to help fim, complete the depreciation whedule Dan Stroncine Depreciation Expense Amount Balance sheet Value Year 1 3 50.00 5 Kamparchased tullale in a sorters with 5600,000 of her own money. Helpler prepare Teracount for her first month of operations wing the information prended below. med $600.000 cash in the net polit Cash Om Egy repaid h. parchased 50 in food, of which is to be paid next month accountabile) Ford Inventory Account Pay y? dou, her mbro . kuwi persed 510.000 in temur, all teceed in canl 1. Kami pallier employees this month widi all cheche (cab Cash Adrede parchased a small vide moielin April with the libertrance money he received from his wealdean Hep his person for his fint of operations in die Information provided below dans med 500.000 in the Cash Owner