Fantastic Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three...
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Fantastic Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $1,800 . May 5: Received and paid electricity bill, $140 • May 9: Received cash for meals served to customers, $2,000 • May 14: Paid cash for kitchen equipment, $2,000 • May 23: Served a banquet on account, $2,900 • May 31: Made the adjusting entry for rent (from May 1). • May 31: Accrued salary expense, $1,900 May 31: Recorded depreciation for May on kitchen equipment, $590 May 1 May 5 May 9 May 14 May 23 May 31 May 31 May 31 Amount of Revenue (Expense) for May Cash Basis Accrual Basis 0 Fantastic Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $1,800 . May 5: Received and paid electricity bill, $140 • May 9: Received cash for meals served to customers, $2,000 • May 14: Paid cash for kitchen equipment, $2,000 • May 23: Served a banquet on account, $2,900 • May 31: Made the adjusting entry for rent (from May 1). • May 31: Accrued salary expense, $1,900 May 31: Recorded depreciation for May on kitchen equipment, $590 May 1 May 5 May 9 May 14 May 23 May 31 May 31 May 31 Amount of Revenue (Expense) for May Cash Basis Accrual Basis 0
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
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