Under accrual basis accounting, expenses are recognized when incurred, which mea

Question

Under accrual basis accounting, expenses are recognized when incurred, which means the activity giving rise to the expense has occurred Assume me following transactions occurred in January 2014 For each of the transactions, if an expense is to be recognized in January, indicate the amount Gateway pays its computer service technicians 5108.000 in salary for work dona in January 2014, Answer from Gateway's standpoint At the beginning of January Tuenboldt Construction Company pays $7,200 in rent for February to April 2014

Explanation / Answer

1)Yes, $108,000
2)No
3)Yes,$1900
4)yes,$2400
5)yes,$6800
6)Yes,$460

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