Answered

Nancy owns a small dress store. During 2015, Nancy gives business gifts having the indicated cost to the following individuals:
Mrs Johns (a customer) : $37 plus $3 shipping
Mr. Johns (nonclient husband of Mrs. Johns) : $10
Ms. Brown (a customer): $22
What is the amount of Nancy's deduction for business gifts?
a. $ 0
b. $ 50
c. $ 53
d. $ 62
e. None of the above

Answer :

ABIOLATAIWO2015GO

Answer:

b. $50

Explanation:

Calculation for the amount of Nancy's deduction for business gifts

Deduction for business gifts=($37+$10-$22)+$3+$22

Deduction for business gifts=$25+$3+$22

Deduction for business gifts=$50

Therefore the amount of Nancy's deduction for business gifts will be $50

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