Bisa CPA who conducts his practice as a sole proprietor. During 2021, he received cash of 890 200 for accounting and tex services. Of the amount collected $8,000 provided accounts receivable of $12,000, alt for services rendered in 2021. was for servic Compute B's gross income for 2021 using the accrual basis of accounting O $90,200 O $82,200 O$96.200 $94,200 O $110,200
Bisa CPA who conducts his practice as a sole proprietor. During 2021, he received cash of 890 200 for accounting and tex services. Of the amount collected $8,000 provided accounts receivable of $12,000, alt for services rendered in 2021. was for servic Compute B's gross income for 2021 using the accrual basis of accounting O $90,200 O $82,200 O$96.200 $94,200 O $110,200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Subject: acounting
Transcribed Image Text:QUESTION 1
B is a CPA who conducts his practice as a sole proprietor. During 2021, he received cash of $90,200 for accounting and tax services. Of the amount collected, $8,000
was for services provided in 2020. 1 of 2021, B had accounts receivable of $12,000, at for services rendered in 2021.
Compute Bill's gross income for 2021 using the accrual basis of accounting
O$90,200
O $82,200
O$96,200
O$94,200
$110,200
QUESTION 2
Under the terms of a divorce agreement entered into in 2017, Tina was to pay her husband Joe $5,000 per month in alimony. Tina's payments will be reduced to $3,000
per month when their 10 year old son becomes 21. Joe has custody of their son. For a 12 month period, Tina can deduct from gross income (and Joe must include in
gross income)
Oa$60,000
Ob $48,000
Oc$36.000
Od $24,000
50.
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