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You are provided with the following income tax information for David Smith, a self-employed solicitor. He has only one employee who is employed as a
You are provided with the following income tax information for David Smith, a self-employed solicitor. He has only one employee who is employed as a receptionist for the year ended 30 June 2024. Accounts receivable balance as at 1 July 2023: $50,000 Cash received from clients: $200,000 Accounts receivable balance as at 30 June 2024: $40,000 What will be the assessable income for David Smith for the year ended 30 June 2024? Question 6Answer a. David Smith's assessable income will be $240,000. b. David Smith's assessable income will be $210,000. c. David Smith's assessable income will be $190,000. d. David Smith's assessable income will be $200,000
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