Question: the recommendation is not required. these are the options. 1. Financial Statements: The Income Statement content is revenues and expenses. In this exercise, determine which
1. Financial Statements: The Income Statement content is revenues and expenses. In this exercise, determine which of the following events would meet the criteria of revenue or expense under the accrual basis of accounting. This applies to 1a-1h. Recommendation: Explain what factors were used in your selection. Also, write the journal entry for each event to help you. A. Walt's Appliance Repair performs a repair for a customer and sends them a bill. [Choose] B. Walt gets the Westar electric bill in the mail. It is due in 15 days. (Choose] C. Walt pays the Westar electric bill on the due date. [Choose] Choose D. Walt's business repairs a dishwasher for a customer who pays cash to the repair technician E. Walt pays a web designer $500 to design and launch a web site advertising the business. [Choose) F. Walt's technicians have worked for two weeks. They will be paid for this in another two weeks. [Choose] G. A customer that was out of cash gives Walt's a lawn mower in payment of repair work. [Choose] H. Walt's buys new testing and diagnostic equipment costing $1,200 [Choose] the [Choose ] Expense for Walt's Appliance Repair due to utilization. Not an expense or a revenue under the accrual basis. Revenue for Walt's Appliance Repair due to performance of services. Expense for Walt's Appliance Repair because they paid cash. Revenue for Walt's Appliance Repair because they received cash. Not an expense or a revenue under accrual basis accounting. er for a Choose
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