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Consider the following transactions: 1. The company pays dividends to shareholders in the current year, $2,200. 2. The company pays cash for rent in the
Consider the following transactions:
1. The company pays dividends to shareholders in the current year, $2,200.
2. The company pays cash for rent in the current period, $2,000.
3. The company pays cash for utilities in the current period, $1,300.
The amount of accrual-basis expense is _____ while the amount of cash-basis expense is _____.
A) | $3,300; $3,300 |
B) | $5,500; 5,500 |
C) | $3,300; 5,500 |
D) | $5,500; $3,300 |
E) | $5,500; $4,200 |
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