Dewey Cheetham has been practicing as a CPA for the last eight years as a sole practitioner and using the cash method of accounting. As the practice started, Dewey issued bills on the first of the month, charging hourly rates for the services provided over the past month. Any payments received were promptly deposited into the checking account. In November and December of 2018, the firm generated a significant amount of billing. To address the impact of the large end of year receipts Dewey did not send out bills for the final two months of the year. What are the implications that Dewey faces with this decision?

Answer rating: 100% (QA)

If the CPA didnt raise the bills to cover taxes he will be guilty and need ... View the full answer