Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ahmed, who is an electrician, perform services for

Ahmed, who is an electrician, perform services for a client December 1, 2019. Ahmed billed...

90.2K

Verified Solution

Question

Accounting

Ahmed, who is an electrician, perform services for a client December 1, 2019. Ahmed billed the client $1,500 on December 5, 2019. Immediately after that, Ahmed traveled out of town and won't return until January 7, 2020. Ahmed authorized his friend Mary to act as his agent to receive the payment. Ahmeds client is aware of this arrangement. Mary received the payment December 30, 2019. Ahmed deposit the $1,500 on January 8, 2020.

When should Ahmed recognize the $1,500 for tax purpose? Explain?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

explain the “problem of good “analogy ,and how it is used as an argument against the...

Psychology
Q

Helium has a mass of 4 atomic mass units and is the second lightest element after...

Physics
Q

When a shorting type rotary switch is turned each contact is shorted to a common bar...

Electrical Engineering
Q

Taylor series f(xi+1)=f(xi)+f'(xi)h+(f''(xi)/2!)h2+(f'''(xi)/3!)h3+..... given f''(xi)=(-f(xi+3)+4f(xi+2)-5f(xi+1?)+2f(xi))/h2 what is the order of error o(h2)

Advance Math
Q

Mr Gary sketched a scale drawing of his new rectangular patio which was to be...

Geometry
Q

Solve the system. If there is no solution or if there are infinitely many solutions...

Basic Math
Q

In a club with 8 members how many ways can a slate of 3 officers...

Algebra
Q

The following CVP income statements are available for Chantal Corp. and Mantle, Inc. Chantal...

Accounting
Q

To calculate the amount realized on the sale of an asset, the proceeds are reduced...

Accounting
Q

Skysong Leasing Company signs a lease agreement on January 1, 2020, to lease electronic equipment...

Accounting
Q

home / study / business / business statistics / business statistics solutions manuals / basics...

Finance
Q

Compare and contrast two types of leases and describe the advantages and disadvantages of each....

Finance