Question

Show whether each transaction would be handled as a revenue or an expense using both the cash basis and Acura basis accounting systems by completing the table provided.

Big Day Catering completed the following selected transactions during May 2018 (Click the loon to view the transactions) Read the requiremerts t 1. Show whether each transacton would be handled as a revenue or an expense using both the cash basis and accrual basis accounting systems by completing the table provided. (Expenses should be shown i More Info Cash Basis Amount (2,100) May 1 May 5 Received and paid electrioity bill $200 9Received cash for meals served to customers, $2,000 14 Paid cash for kitchen equipment, S3900 23 Served a banquet on account, $3.300 1 Made the adjusting entry for nent (from May 1) 1 Accrued salary expense, $1,500 31 Clear Al

Answer 1

Amount of revenue (expenses) for May
Date	Cash basis amount of revenue (expense)	Accrual basis amount of revenue (expenses)
May 1	(2,100)	0
May 5	(200)	(200)
May 9	2,000	2,000
May 14	0	0
May 23	0	3,300
May 31	0	(700)
May 31	0	(1,500)
May 31	0	(65)

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