cash and accrual basis wayne rogers corp maintains its financial records on the cas 1562386

(Cash and Accrual Basis) Wayne Rogers Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Wayne Rogers Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2013, 2014, and 2015.

Instructions

(a) Using the data above, prepare abbreviated income statements for the years 2013 and 2014 on the cash basis.

(b) Using the data above, prepare abbreviated income statements for the years 2013 and 2014 on the accrual basis.