Sara, who gives music lessons, is a calendar year taxpayer using the accrual method of accounting. On Oct. 1 of this year she received 25,000 for a one year contract beginning on the date to provide 10 lessons. She gave 6 lessons this year. How much should Sara include in income this year?© BrainMass Inc. brainmass.com June 3, 2020, 7:40 pm ad1c9bdddf
This method of accounting is more precise than the cash method. Its main purpose is to match ...
This solution is comprised of a detailed explanation to answer how much should Sara include in income this year. How much Sara should include in income the year are determined.