Schaad’s Stews, Inc., completed the following transactions during June, 2012: Jun 1 Prepaid rent for June through September, $3,600.2 Purchased computer for cash, $900.3 Performed catering services on account, $2,300.5 Paid Internet service provider invoice, $100.6 Catered wedding event for customer and received cash, $1,500.8 Purchased $150 of supplies on account.10 Collected $1,200 on account.14 Paid account payable from June 8.15 Paid salary expense, $1,200.30 Recorded adjusting entry for rent (see June 1).30 Recorded $25 depreciation on computer.30 There are $40 of supplies still on hand.Requirement1. Show whether each transaction would be handled as a revenue or an expense, using both the accrual and cash basis, by completing the followingtable.
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Schaad s Stews Inc completed the following transactions durin