hello I need help with this please Sweet Catering completed the following selected transactions during May 2016 May 1 Prepaid rent for three months, $2,700 May 5 Received and paid electricity bill, $150 May 9 Received cash for meals served to customers, $3,120 May 14 Paid cash for kitchen equipment, $3,990 May 23 Served a banquet on account, $2,030 May 31 Made the adjusting entry for rent (from May 1) May 31 Accrued salary expense, $60 May 31 Recorded depreciation for May on kitchen equipment, $110 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 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

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Question: hello I need help with this please Sweet Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $2,700

hello

I need help with this please

Sweet Catering completed the following selected transactions during May 2016:

May 1: Prepaid rent for three months, $2,700
May 5: Received and paid electricity bill, $150
May 9: Received cash for meals served to customers, $3,120
May 14: Paid cash for kitchen equipment, $3,990
May 23: Served a banquet on account, $2,030
May 31: Made the adjusting entry for rent (from May 1).
May 31: Accrued salary expense, $60
May 31: Recorded depreciation for May on kitchen equipment, $110

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.

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.

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