The bookkeeper of the Rosehill Municipal Arens ha prep t following statement for the month of November, which he de Statement of Financial Results

Rosehill Municipal Arena

Statement of Financial Results for Month of November, 2011

Rec

$84,000

Revenue from ice rental Revenue from admissions

Bowing from bank

36,000

30.000

Expertes

$13,400

31,000

12,400

Payment for mupplies purchased

Payment for equipment purchased

Payment for a one-year insurance policy

Wages paid in cash

32,950 9,760

15,000

Miscellaneous cash expenses Depreciation on ice-making system

20.000

134.50

$.15.490

Deposit on Zamboni ice-cleaning machine to be delivered in January

Net

The bookkeeper wants advice on how to prepare an accrual-based statement of revenue and expense (SRE). Reviewing the wording of

each italicized caption in the statement above, indicate whether it is

Required

i appropriate for an accrual-based SRE, Lc., an item that one might expect to see on an SRE: or li. not quite correct, but if properly modified, it might appear on

an accrual based SRE;