Question
At Christmas, Alejandra gave each of her 35 best customers a large bottle of body lotion. Each bottle had a wholesale cost to Alejandra of
At Christmas, Alejandra gave each of her 35 best customers a large bottle of body lotion. Each bottle had a wholesale cost to Alejandra of $12 but a retail price of $24. Alejandra also spent $3 to have each bottle gift wrapped. (Note: The lotion was special order merchandise and was not part of the businesss inventory or purchases for the yearsee item 2.) She also gave each of the nine stylists who leased chairs from her a fruit basket that cost $30 plus a $5 delivery cost.
HOW MUCH WOULD YOU INCLUDE IN TAX RETURN I'M ASSUMING IT GOES IN SCHEDULE C BUT WHAT AMOUNT? GIVEN THE 25 TAX LIMIT PER PERSON AND IS THE GIFT WRAPPING AND DELIVERY INCLUDED IN THIS?
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