Question: 6 0 . 0 % complete Question Layla works for Joyful Planners, a company that sells planners and organizational tools. Joyful Planners normally has a

60.0% complete
Question
Layla works for Joyful Planners, a company that sells planners and organizational tools. Joyful Planners normally has a gross profit percentage of 30%. Layla loves using a paper daily planner, so she decides to buy 3 planners from the company that she will gift to friends. Layla pays $146.25for three planners that would have normally retailed for $225. What, if any, amount must be included in Layla's gross income?
A.$0
B.$11.25
C.$146.50
D.$157.50

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!