Question
Sal, a lawyer, billed Bob $1,000 for legal services. Bob paid Sal $500 cash and installed a new door for Sal's office to settle the
Sal, a lawyer, billed Bob $1,000 for legal services. Bob paid Sal $500 cash and installed a new door for Sal's office to settle the remainder of the bill. Bob normally charges $650 to install a door. What amount does Sal need to report as income for tax purposes?
Multiple Choice
- $500
- $650
- $1,000
- $1,150
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Business Communication Essentials
Authors: Courtland Bovee
4th Canadian Edition
0133508706, 978-0133508703
