70.2K

Verified Solution

Link Copied!

14. Determine Amos Seagulls gross income in each of the following cases:

(Amos and his neighbor got into an argument over Amoss dog. The neighbor built a fence to keep the dog out of his yard. The fence added $1,500 to the value of Amoss property)

15. Al is an attorney who conducts his practice as a sole proprietor. During 2019, he received cash of $150,000 for legal services. Of the amount collected, $25,000 was for services provided in 2018. At the end of 2019, Al had accounts receivable of $60,000, all for services rendered in 2019. At the end of the year, Al received $8,000 as a deposit on property a client was in the process of selling. ComputeAls gross income for 2019:

_Using the cash basis of accounting._

16. Al is an attorney who conducts his practice as a sole proprietor. During 2019, he received cash of $150,000 for legal services. Of the amount collected, $25,000 was for services provided in 2018. At the end of 2019, Al had accounts receivable of $60,000, all for services rendered in 2019. At the end of the year, Al received $8,000 as a deposit on property a client was in the process of selling. Compute Als gross income for 2019:

Using the accrual basis of accounting.

please answer all these 3 questions within a half hour please thankyou

Answer & Explanation Solved by verified expert

See Answer