its customers pay immediately after the job is finished. Some customers ask that the business send them a bill. As of the end of the year, Secure Home has collected $3,450 from cash-paying customers. Secure Home's remaining customers owe the business $2,940. Secure Home recorded $3,450 of service revenue for the year.

Cash basis

If Secure Home had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?

6390

Momentous Occasions received $3,730 for services to be performed for the next 8 months on March 31 and recorded this transaction using the Unearned Revenue account.

Accrual basis

If Momentous Occasions had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?

3730

Sweet Catering completed the following selected transactions during May 2016:

May 1: Prepaid rent for three months, $2,100

May 5: Received and paid electricity bill, $80

May 9: Received cash for meals served to customers, $2,760

May 14: Paid cash for kitchen equipment, $3,550

May 23: Served a banquet on account, $2,120

May 31: Made the adjusting entry for rent (from May 1).

May 31: Accrued salary expense, $1,990

May 31: Recorded depreciation for May on kitchen equipment, $590

If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.

-2970

If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.

1520