Question

Peter’s Bowling Inc. operates several bowling centres for games and equipment sales. The transactions on the following page occurred in October 2014.
Required
1. For each transaction, indicate in the appropriate column the account titles that are affected and the type of account (A for asset, L for liability, R for revenue, and E for expense), and the amount of cash received or paid.
2. If a revenue or expense is to be recognized in October, indicate the amount. If a revenue or expense is not to be recognized in October, indicate why.
3. Explain why the difference between revenues and expenses is not equal to the net cash flow during October 2014.


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  • CreatedAugust 04, 2015
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