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Question #1 (26 marks) At the end of 2017, the accounting records of Trite Company showed the following data: 2017 20184 2019 $35,000 28,000 $55,000
Question #1 (26 marks) At the end of 2017, the accounting records of Trite Company showed the following data: 2017 20184 2019 $35,000 28,000 $55,000 17,000 5,000 Service revenue: Cash On credit 2019 revenue collected in advance of 2019 (not Included in the $55,000) Additional cash collections for: 2017 service revenue 2018 service revenue 12 8,000 4,000 6,000 [ $2,000 22,000 3,000 A 32,000 9,000 5,000 Expenses: Paid in cash On credit 2019 expenses paid in advance of 2019 (not Included in the $32,000) Additional cash payments for:- 2017 expenses 2018 expenses 2,000 1,000 4,000 4,000 U Required: Complete the following tabulation: 2017 2018 Service revenue that would be reported: Accrual basis Cash basis $ $ $ Expenses that would be reported: Accrual basis Cash basis $ $ $ $ Please show calculations here
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