Accounting Cash Basis Assignment

1. What type of business would be more likely to use the cash basis of accounting? (5 pts) A. Dillards B. Caterpillar C. Jordan's Bike Shop D. Whataburger 2. Matching (each choice could be used more than once) (5 pts ea.) A. Accrual basis of accounting C. Cash basis of accounting Matches reporting of expenses to revenues when revenues are earned Reports net income as the difference between cash receipts and cash payments Requires making adjusting entries Reports revenues and expenses when cash is received or paid May to be used by companies that have few receivables and payables Does not allow for a clear picture of cash flow __ May distort reporting of the profitability of a company due to timing of payments 3. Your company does some work for a customer and received payment when the job contract was written on July 12th for work to be performed and completed on August 5 What month is the income recorded for a cash-basis company? (5 pts) What month is the income recorded for an accrual-basis company? (5 pts)

4. Selected transactional data of business are summarized below. $33,000 28,000 Service sales charged to customers on account during September Cash received from cash customers for services performed in September Cash received from customers on account during September Services performed and charged to customers prior to September Services performed and charged to customers during September Expenses incurred prior to September and paid during September Expenses incurred and paid in September Expenses incurred in September but not paid in September Expenses for supplies used and insurance (not included above) applicable to September 13,000 18,000 6,500 36,250 5,000 2,000 Determine the following amounts for September: (30 pts) HINT: the amounts can be revenue or expense under both methods, depending on the description of the transaction. Accrual Basis Accounting Cash Basis accounting Total revenue Total expense Net Income/(Loss) 5. Are adjusting entries used in a cash-basis or accrual basis accounting system? (5 pts) Identify one type of adjusting entry and the reason that the type of adjusting entry needs to be made. (15 pts) .

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Australia Assessments
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Thanks for your cooperation. Great work.
Customer 463647, December 16th, 2022
Human Resources Management (HRM)
Customer 462499, May 21st, 2022
Entertainment & Gaming
Great work.
Customer 452441, April 29th, 2022
The work is really good and even better than I could have imagined.
Customer 454439, June 12th, 2020
Healthcare & Medical
Good work
Customer 463469, October 22nd, 2022
Business and administrative studies
Good work.
Customer 463053, June 20th, 2022
Health Care
Met expectations. Thank you.
Customer 454755, June 30th, 2020
A few mistakes but overall an excellent paper
Customer 453915, September 13th, 2022
Very good job
Customer 456821, May 13th, 2022
Health Care Management
Customer 463009, May 23rd, 2022
Heed to instructions and use Grammarly before submitting.
Customer 462827, April 7th, 2022
English 101
Use Premium Grammarly for your edits.
Customer 462833, April 9th, 2022
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat