I need an explaination of each part from May1 to May31 (i.e. why in May5, the answer is both cash and accural is 900) and so on, and how I can determine immediately whether it has cash/accrual ?

heres the solution. I need a complete expalination of each step from may1 till the end, explaining why it cash and why it accrual and why it is both

Requirement. Sow what would be seen the basis and basis or expense. The Way Transaction has been completed as a wameter for any transactions that do not affect revenues ores) Amount of Revenue Expense for May CashBass Amount D 5 2001 5 2.700 3 0.120 May 23 May May May May 14 May 23 Received a mestomers. 82.700 Pad cash for the women 3.20 2. A wy 31.00 Done Requirement 2. Aturcoing to come or nations to Day Caringer Cash Basis Amount Accrual Basis Amon 5 000 Requirement Considering your retro Regiment which gives the best in the Das Cowing Requirement 1. Show whether each transaction would be handled as a revenue or an expense using both the or expense. The May 1 transaction has been completed as an example. (Enter "O" for any transactions that do Amount of Revenue (Expense) for May Cash Basis Amount Accrual Basis Amount Date of Revenue (Expense) of Revenue (Expense) May 1 5 (3.300) 5 May 5 $ (300) $ (300) May $ 2.700 $ 2.700 May 14 $ (3.120) $ May 23 $ $ 3.800 May 31 $ $ (1.100) May 31 Salarys $ (1.800) May 31 depr $ $ (52) Requirement 2. After completing the table, calculate the amount of net income or net loss for Big Day Catering Cash Basis Amount Accrual Basis Amount Net income (loss) 5 (4.020) $ 3.248 rent col May 1 May 5 May 9 May 14 May 23 May 31 May 31 May 31 Prepaid rent for three months, $3.300 Received and paid electricity bill, $300. Received cash for meals served to customers, $2,700. Paid cash for kitchen equipment, $3,120. Served a banquet on account. $3.800. Made the adjusting entry for rent (from May 1). Accrued salary expense. $1,800. Recorded depreciation for May on kitchen equipment. $52. Print Done