Amara is a sole proprietor who operates her business using the cash method of accounting and a calendar year. Based on the following list, how much income will be reported on her 2023 Schedule C? $10,000 check received January 4, 2024, for a job completed December 20, 2021. $15,000 check received December 29, 2023, for a job completed December 28, 2022, deposited January 5, 2024. $9,500 balance due for work that Amara performed in June 2023. Amara took her client to small claims court in December 2023, but did not receive any satisfaction. 1) $9.500 2) $15,000 3) $19,500 4) $25,000
Amara is a sole proprietor who operates her business using the cash method of accounting and a calendar year. Based on the following list, how much income will be reported on her 2023 Schedule C? $10,000 check received January 4, 2024, for a job completed December 20, 2021. $15,000 check received December 29, 2023, for a job completed December 28, 2022, deposited January 5, 2024. $9,500 balance due for work that Amara performed in June 2023. Amara took her client to small claims court in December 2023, but did not receive any satisfaction. 1) $9.500 2) $15,000 3) $19,500 4) $25,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Amara is a sole proprietor who operates her business using the cash method of accounting and a calendar year. Based on the following list, how much income will be reported on her 2023 Schedule C?
$10,000 check received January 4, 2024, for a job completed December 20, 2021.
$15,000 check received December 29, 2023, for a job completed December 28, 2022, deposited January 5, 2024.
$9,500 balance due for work that Amara performed in June 2023. Amara took her client to small claims court in December 2023, but did not receive any satisfaction.
1) $9.500
2) $15,000
3) $19,500 4) $25,000
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