The Cable TV Company,an accrual basis taxpayer,allows its customers to pay by the month,by the year,or two years in advance.In December 2013,the company collected the following amounts applicable to future services:
If Cable TV wants to report as little income as possible for 2013,what is the amount of gross income that must be reported for 2013?

Question

The Cable TV Company,an accrual basis taxpayer,allows its customers to pay by the month,by the year,or two years in advance.In December 2013,the company collected the following amounts applicable to future services:
  If Cable TV wants to report as little income as possible for 2013,what is the amount of gross income that must be reported for 2013?

Quizplus · Accepted Answer

The Answer of The Cable TV Company,an accrual basis taxpayer,allows its customers to pay by the month,by the year,or two years in advance.In December 2013,the company collected the following amounts applicable to future services:
  If Cable TV wants to report as little income as possible for 2013,what is the amount of gross income that must be reported for 2013?

The Cable TV Company,an Accrual Basis Taxpayer,allows Its Customers to Pay