Jeremy is a calendar$-$year taxpayer who sometimes leases his business equipment to local organizations. He recorded the following receipts this year. Indicate the extent to which these payments are taxable income to Jeremy this year if Jeremy is

$1.$ a cash$-$method taxpayer and

$2.$ an accrual$-$method taxpayer.

b$.$ $$800$ from the Ladies' Club for leasing the trailer from December of this year through March of next year $($$$200$ per month$).$

Income under cash method $800$ Required Information

Problem $9\mathrm{.}60($LO $9\mathrm{.}4)($Static$)$

$[$The following Information applies to the questions displayed below.$]$

Jeremy is a calendar$-$year taxpayer who sometimes leases his business equipment to local

organizations. He recorded the following recelpts this year. Indicate the extent to which these

payments are taxable income to Jeremy this year if Jeremy is

a cash$-$method taxpayer and

an accrual$-$method taxpayer.

Note: Leave no answers blank. Enter zero If appllcable.

Problem $9-60$ Part$-$b $($Static$)$

b$.$ $$800$ from the Ladies' Club for leasing the traller from December of this year through March of next year $($ $$200$ per

month$).$

Answer is complete and correct.

Income under accrual method $800$

At the end of March Jeremy would have received $$200$ a month $($From December to March $(4-$months$))$