Question

Bill operates a proprietorship using the cash method of accounting, and this year he received the following: $140 in cash from a customer for services rendered this year a promise from a customer to pay $192 for services rendered this year tickets to a football game worth $230 as payment for services performed last year a check for $178 for services rendered this year that Bill forgot to cash How much income should Bill realize on Schedule C

Answer 1

Answer:

$548

Explanation:

Calculation to determine How much income should Bill realize on Schedule C

Income realized=$140+ $230 + $178

Income realized= $548

Therefore How much income should Bill realize on Schedule C is $548