Business, 13.02.2020 18:57 whitneyt3218

The taxpayer had incorrectly been using the cash method of accounting. For 2019, the company voluntarily changed to the accrual method. The adjustment due to the change in method as calculated at the beginning of 2019 was $120,000 (positive). The adjustment as calculated as of the end of 2019 was $80,000 (positive). As a result of the change in method, the company must:

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The taxpayer had incorrectly been using the cash method of accounting. For 2019, the company volunta...

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