Collections for services rendered in 2nd quarter 60,000 Collections for services rendered in 1st quarter 30,000 Collections for services to be rendered inthe 3rd quarter 40,000 Uncollected billings in 1t quarter 20,000 Uncollected billings in 2d quarter 25,000 How much is the taxable income in the 2nd quarter using cash basis and accrual basis?

Collections for services rendered in 2nd quarter 60,000 Collections for services rendered in 1st quarter 30,000 Collections for services to be rendered inthe 3rd quarter 40,000 Uncollected billings in 1t quarter 20,000 Uncollected billings in 2d quarter 25,000 How much is the taxable income in the 2nd quarter using cash basis and accrual basis?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter12: Corporations: Organization, Capital Structure, And Operating Rules

Section: Chapter Questions

Problem 4BCRQ

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