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 payments:  
-$100 in cash from a customer for services rendered this year
-a promise to pay $200 from a customer for services rendered this year
-tickets to a football game worth $250 as payment for services performed last year
-a check for $170 for services rendered this year that Bill forgot to cash
How much income should Bill realize on Schedule C?

• A) $100
• B) $300
• C) $350
• D) $270
• E) $520

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Definitions:

Environmental Ambiance

The overall atmosphere or mood created by a particular environment, influenced by factors such as design, lighting, and sound.

Activation

In psychology, the process of stimulating activity in the brain, influencing mental and physical functions.

Deactivation

The process of turning off, disabling, or removing the active status of a system, device, or substance.

Restorative Place

An environment or setting that promotes recovery from stress and fatigue, often through elements of nature and peaceful settings.