This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Alex is a calendar year sole proprietor. He began business on December 1, this year. He uses the ... (Read 97 times)

jace

  • Hero Member
  • *****
  • Posts: 541
on: Sep 13, 2020
Alex is a calendar year sole proprietor. He began business on December 1, this year. He uses the accrual method of accounting. Alex had the following collections in December:

•  Collected $7,000 in December, from clients who paid cash for services to be performed next year.
•  Collected $5,000 in December, for services performed during December; deposited in an operating account on December 31, this year.
•  Collected $12,000 in December; on accounts receivable for services performed in December; deposited in operating account on January 2, next year.

What is the amount Alex must include in his income for December?
◦ $7,000
◦ $12,000
◦ $17,000
◦ $24,000
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by jace on Sep 13, 2020

Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


jace

  • Member
  • Posts: 541
Reply 2 on: Sep 13, 2020
Gracias!

ecabral0

  • Member
  • Posts: 310
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

True Dover Sole True Dover Sole
Business Math Question Solution Business Math Question Solution
Kahan (Last Year) Kahan (Last Year)
What single payment one year from now would be economically equivalent to payments of $1,000 ... What single payment one year from now would be economically equivalent to payments of $1,000 ...
December 1, 2023 December 1, 2023
The Cosmic Calendar: Concepts of Time The Cosmic Calendar: Concepts of Time
Video: Kinetic parameters & Kinetic experiment

For a complete list of videos, visit our video library