Bill Operates a Proprietorship Using the Cash Method of Accounting

question 62

Multiple Choice

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 yeara promise from a customer to pay $192 for services rendered this yeartickets to a football game worth $230 as payment for services performed last yeara check for $178 for services rendered this year that Bill forgot to cash How much income should Bill realize on Schedule C?

• A)$140
• B)$332
• C)$370
• D)$318
• E)$548

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Organizational Structure

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