Sweet Catering completed the following selected transactions during May 2016: May 1: Prepaid...
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Sweet Catering completed the following selected transactions during May : May : Prepaid rent for three months, $ May : Received and paid electricity bill, $ May : Received cash for meals served to customers, $ May : Paid cash for kitchen equipment, $ May : Served a banquet on account, $ May : Made the adjusting entry for rent from May May : Accrued salary expense, $ May : Recorded depreciation for May on kitchen equipment, $ 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. incorrect 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.
Sweet Catering completed the following selected transactions during May :
May : Prepaid rent for three months, $
May : Received and paid electricity bill, $
May : Received cash for meals served to customers, $
May : Paid cash for kitchen equipment, $
May : Served a banquet on account, $
May : Made the adjusting entry for rent from May
May : Accrued salary expense, $
May : Recorded depreciation for May on kitchen equipment, $
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.
incorrect
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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