Dr Nick

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About Dr Nick

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Teaching Since: May 2017
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Education

  • MBA (IT), PHD
    Kaplan University
    Apr-2009 - Mar-2014

Experience

  • Professor
    University of Santo Tomas
    Aug-2006 - Present

Category > Accounting Posted 13 Sep 2017 My Price 15.00

Sweet Catering completed the following selected t

 

Sweet Catering completed the following selected transactions during May 2016:

May 1: Prepaid rent for three months, $3,000

May 5: Received and paid electricity bill, $170

May 9: Received cash for meals served to customers, $1,210

May 14: Paid cash for kitchen equipment, $2,480

May 23: Served a banquet on account, $2,310

May 31: Made the adjusting entry for rent (from May 1).

May 31: Accrued salary expense, $3,680

May 31: Recorded depreciation for May on kitchen equipment, $670

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.

Answers

Dr Nick
(4)
Status NEW Posted 13 Sep 2017 02:09 PM My Price 15.00

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