Determine the effects of the following on a cash basis taxpayer's gross income for 2022 and 2023. If an amount is zero, enter "0" Gross Income 2022 Gross Income 2023 a. On the morning of December 31, 2022, the taxpayer received a $1,500 check from a customer. The taxpayer did not cash the check until January 3, 2023. b. On the morning of December 31, 2022, the taxpayer received a $1,500 check from a customer. The customer asked the taxpayer not to cash the check until January 3, 2023, after the customer's salary check could be deposited. c. On December 31, 2022, the taxpayer received a $1,500 check from a customer. The check was not received until after the bank had closed on December 31, 2022. The taxpayer did not cash the check until January 3, 2023. 0 100
Determine the effects of the following on a cash basis taxpayer's gross income for 2022 and 2023. If an amount is zero, enter "0" Gross Income 2022 Gross Income 2023 a. On the morning of December 31, 2022, the taxpayer received a $1,500 check from a customer. The taxpayer did not cash the check until January 3, 2023. b. On the morning of December 31, 2022, the taxpayer received a $1,500 check from a customer. The customer asked the taxpayer not to cash the check until January 3, 2023, after the customer's salary check could be deposited. c. On December 31, 2022, the taxpayer received a $1,500 check from a customer. The check was not received until after the bank had closed on December 31, 2022. The taxpayer did not cash the check until January 3, 2023. 0 100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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Transcribed Image Text:Determine the effects of the following on a cash basis taxpayer's gross income for 2022 and 2023. If an amount is zero, enter "0".
Gross Income
2022
Income
2023
a. On the morning of December 31, 2022, the taxpayer received a $1,500
check from a customer. The taxpayer did not cash the check until January
3, 2023.
b. On the morning of December 31, 2022, the taxpayer received a $1,500
check from a customer. The customer asked the taxpayer not to cash the
check until January 3, 2023, after the customer's salary check could be
deposited.
On December 31, 2022, the taxpayer received a $1,500 check from a
customer. The check was not received until after the bank had closed on
December 31, 2022. The taxpayer did not cash the check until January 3,
2023.
Gross
II
10
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