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StormLrd StormLrd
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7 years ago
The following transactions for Carleton Company occurred during January 2013:
1   Purchased a two-year insurance policy for cash, $8,400.
4   Paid utilities bill received in December 2012, $450.
9   Performed a service on account, $1,200.
16   Paid bimonthly salary to employees, $2,700.
21   Received $800 from a customer on account.
25   Received $600 from January 9 transaction.
30   Prepared the adjusting entry for insurance from January 1 transaction.
30   Accrued wages of $2,750.

Required: Show the amount of revenue and expense recognized for each transaction under both the accrual basis and the cash basis of accounting by completing the charts below.

   ACCRUAL BASIS
Date   Revenue   Expense
      
      
      
      
      

   CASH BASIS
Date   Revenue   Expense
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
Authors:
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AlexmosutheAlexmosuthe
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3 years ago Edited: 3 years ago, tree7
For this question, can anyone tell me what is the amount of income under the cash ​basis?
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