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Business, 18.09.2019 01:30 gobbler80

Joe’s cross fit, an accrual-method taxpayer, provides personal training services. on october 30, 2018, barbie pays joe’s cross fit $2,400 cash for 24 months of personal training services ($100/month). barbie’s training sessions beginning on november 1, 2018. for book purposes, joe's cross fit will recognize $200 in income in 2018, $1,200 in 2019, and $1,000 in 2020. for tax purposes, how much of the $2,400 must joe’s cross fit include in gross income in 2018 if joe’s elects to defer prepaid income to the maximum extent possible?

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Joe’s cross fit, an accrual-method taxpayer, provides personal training services. on october 30, 201...
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