Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 2 Days Ago
Questions Answered: 66690
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 12.00

Wayne Rogers Corp

Cash and Accrual Basis) Wayne Rogers Corp. maintains its financial records on the cash basis of

accounting. Interested in securing a long-term loan from its regular bank, Wayne Rogers Corp. requests

you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are

provided with the following summarized data covering 2013, 2014, and 2015.

 

2013 2014 2015

Cash receipts from sales:

On 2013 sales $295,000 $160,000 $ 30,000

On 2014 sales '0' 355,000 90,000

On 2015 sales 408,000

Cash payments for expenses:

On 2013 expenses 185,000 67,000 25,000

On 2014 expenses 40,000a 160,000 55,000

On 2015 expenses 45,000b 218,000

aPrepayments of 2014 expenses.

bPrepayments of 2015 expenses

 

Instructions

(a) Using the data above, prepare abbreviated income statements for the years 2013 and 2014 on the

cash basis.

(b) Using the data

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 11:08 PM My Price 12.00

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