Solution-In which year would it have first been required

In which year would it have first been required

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Reference no: EM133070182

Question - WFO Corporation has gross receipts according to the following schedule:

Year 1 $ 24.00 million

Year 2 $ 20.00 million

Year 3 $ 25.00 million

Year 4 $ 27.50 million

Year 5 $ 30.00 million

Year 6 $ 31.00 million

If WFO began business as a cash-method corporation in Year 1, in which year would it have first been required to use the accrual method?

Reference no: EM133070182

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In which year would it have first been required

Reference no: EM133070182

Reference no: EM133070182

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