What accounting method (cash or accrual) would you recommend for the following businesses a A gift shop with average annual gross receipts of $900,000 b An accounting partnership with annual gross receipts of $12 million c A drywall subcontractor who works on residences and has annual gross receipt...

a Modified cash method Inventories are an incomeproducing factor for the gift shop However because t ...

What accounting method (cash or accrual) would you recommend for the following businesses? a. A gift shop

Question:

What accounting method (cash or accrual) would you recommend for the following businesses?
a. A gift shop with average annual gross receipts of $900,000.
b. An accounting with annual gross receipts of $12 million.
c. A drywall subcontractor who works on residences and has annual gross receipts of $3 million.
d. An incorporated insurance agency with annual gross receipts of $6 million.
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...