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 89 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
Wow, this really help

peter

  • Member
  • Posts: 330
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Everyone has one nostril that is larger than the other.

The phosphorus cycle. Numbers are 1012 g P or fluxes as 1012 g P per year (data from Schlesinger 199 The phosphorus cycle. Numbers are 1012 g P or fluxes as 1012 g P per year (data from Schlesinger 199
This is a still image from an animation of ocean surface currents from June 2005 to December 2007 This is a still image from an animation of ocean surface currents from June 2005 to December 2007
The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
December 1, 2023 December 1, 2023
December 15 2023 December 15 2023
Video: Acid-base imbalances - compensation of respiratory acidosis and alkalosis

For a complete list of videos, visit our video library