Question

Bill operates a proprietorship using the cash method of accounting, and this year he received the following: $130 in cash from a customer for services rendered this year a promise from a customer to pay $194 for services rendered this year tickets to a football game worth $235 as payment for services performed last year a check for $176 for services rendered this year that Bill forgot to cash How much income should Bill realize on Schedule C

Answer 1

Answer:

$541

Explanation:

Calculation for How much income should Bill realize on Schedule C

Income realize on Schedule C=$130 + $235 + $176=

Income realize on Schedule C=$541

Therefore the amount of income that Bill should realize on Schedule C is $541