Question
In October of 2017 Bruce, a cash basis CPA, contracted to perform an audit for $2,000 and to prepare the corporate tax return for $1,000.
In October of 2017 Bruce, a cash basis CPA, contracted to perform an audit for $2,000 and to prepare the corporate tax return for $1,000. The contract called for payment January 31 of 2018. The client offered Bruce $1,500 on December 31, 2017. Bruce refused citing the contract payment date. What amount must Bruce include in his 2017 tax return?
| $1,000 |
| $1,500 |
| $3,000 |
| $0 |
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Financial Accounting And Reporting QandA 2020
Authors: ACA Simplified
1st Edition
1661682820, 978-1661682828
