During january kroger paid 9150 for supplies to be used in

Reference no: EM13594163

The following information is taken from the accrual accounting records of Kroger Sales Company:

a. During January, Kroger paid $9,150 for supplies to be used in sales to customers during the next 2 months. The supplies will be used evenly over the next 2 months.

b. Kroger pays its employees at the end of each month for salaries earned during that month. Salaries paid at the end of February and March amounted to $4,925 and $5,100, respectively.

c. Kroger placed an advertisement in the local newspaper during March at a cost of $850. The ad promoted the pre-spring sale during the last week in March. Kroger did not pay for the newspaper ad until mid-April.

Required:

1. Under cash-basis accounting, how much expense should Kroger report for February and March?

2. Under accrual-basis accounting, how much expense should Kroger report for February and March?

Reference no: EM13594163

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