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Ryan operates a sole-proprietorship that provides handyman services. He uses the cash basis method of accounting. How much income should Ryan report on his Schedule
Ryan operates a sole-proprietorship that provides handyman services. He uses the cash basis method of accounting. How much income should Ryan report on his Schedule C if this year he receives the following:
- $750 cash received from a customer for services provided.
- Customer's promise to pay $400 for services rendered.
- 1099-NEC showing non-employee compensation of $1,800.
- $600 cash received from a customer for pre-payment of services to be provided in January.
Group of answer choices
$400
$3,150
$750
$2,200
$1,800
$3,550
$1,150
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