Question
May 1: Prepaid rent for three months, $3,000 May 5: Received and paid electricity bill, $240 May 9: Received cash for meals served to customers,
May 1: Prepaid rent for three months, $3,000
May 5: Received and paid electricity bill, $240
May 9: Received cash for meals served to customers, $2,910
May 14: Paid cash for kitchen equipment, $2,350
May 23: Served a banquet on account, $2,050
May 31: Made the adjusting entry for rent (from May 1).
May 31: Accrued salary expense, $870
May 31: Recorded depreciation for May on kitchen equipment, $190
| 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. |
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How To Prepare Perform And Pass An ISO 9001 2015 Audit
Authors: Rhys J Mitchell
2020 Edition
B085KBSW66, 979-8618615969
