Alex Is a Calendar-Year Sole Proprietor

question 4

Multiple Choice

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?

• A)$7,000
• B)$12,000
• C)$17,000
• D)$24,000

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An individual with the ability to affect the purchasing decisions of others due to their authority, knowledge, position, or relationship with their audience.

Gatekeeper

An individual or organization that controls access to something, such as information or resources, and has the power to influence decisions and flow of information.

Bluetooth Connectivity

A wireless technology standard used for exchanging data between fixed and mobile devices over short distances.

Value-Expressive

Refers to a function of attitudes where individuals express core values and beliefs through their preferences and behaviors.