Compute james gross income


James works as a landscaper for local businesses on weekends, and he often provides services in exchange for property. This year James provided lawn-mowing services in exchange for $1,275 of car repair services, $3,570 of groceries, and a promissory note for $4,050. The note is payable next year with interest. Finally, James received a gift card that can only be applied for $850 of clothing at a local mall. James has only applied the gift card to purchase $100 of clothing as of the end of the year. Compute James' gross income assuming that he uses the cash basis of accounting.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Compute james gross income
Reference No:- TGS0705280

Expected delivery within 24 Hours