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only the accural method please show how you recieved your answer for a positive rating Sweet Catering completed the following selected transactions during May 2016:
only the accural method please show how you recieved your answer for a positive rating
Sweet Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $1,200 May 5: Received and paid electricity bill, $150 May 9: Received cash for meals served to customers, $1,650 May 14: Paid cash for kitchen equipment, $3,480 May 23: Served a banquet on account, $2,360 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $3,900 May 31: Recorded depreciation for May on kitchen equipment, $220 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. -3180 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 265 Under accrual-basis accounting, revenues are recognized when a product or service has been provided to a customer. Expenses are recognized when they have been incurred regardless of the timing of cash payments. Examine each transaction and determine the amount of net income/(loss) for the month. CHECK ANSWE Something still 0 work and try ag Step by Step Solution
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