Jane is an employee of Rohrs Golf Emporium. The shop allows employees to purchase equipment at significant discount. This year Jane purchased several new items to improve her game.   Model FMV Dealer Cost Employee Price Driver $ 610 $ 440 $ 498 Irons $ 1,180 $ 740 $ 864 Balls $ 104 $ 95 $ 86 Bag $ 270 $ 195 $ 220   If the employer's average gross profit percentage is 20 percent, what amount must Jane include in income?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Jane is an employee of Rohrs Golf Emporium. The shop allows employees to purchase equipment at significant discount. This year Jane purchased several new items to improve her game.
 

Model FMV Dealer Cost Employee Price
Driver $ 610 $ 440 $ 498
Irons $ 1,180 $ 740 $ 864
Balls $ 104 $ 95 $ 86
Bag $ 270 $ 195 $ 220
 


If the employer's average gross profit percentage is 20 percent, what amount must Jane include in income?

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