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Accruel and Cash-Bass Expeme Recognition The following information is taken from the accrual accounting records of Krueger Sales Company 2. During January, Krueger paid $9,150
Accruel and Cash-Bass Expeme Recognition The following information is taken from the accrual accounting records of Krueger Sales Company 2. During January, Krueger paid $9,150 for supplies to be used in sales to customers during the next 2 months (February and March): The supplies will be used evenly over the next 2 months b. Krueger pays its employees at the end of each month for salaries eamed during that month, Salaries bald at the end of February and March amounted to 54,925 and $5.700, respectively c. Krueger placed an advertisement in the local newspaper during March at a cost of $890. The ad promoted the pre-spring sale during the last week. In March, Krueger did not pay for the newspaper ad until mio April Required: 1. Under cash-basis accounting, how much experte should runder report for February and March? February March 2. Under acous accounting, how much expense shoda Kruger report for February and March February March 3. Conceptual Connection which is of accounting provides the most useful information for decision makers and why counting provides the most information for decision-maker Under this method, revenue is recognized when expenses are recognized when
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