Sherika and her daughter xiomara attended the concert. how, Ask an Expert

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Sherika's boss gave her two tickets to the 90 Inch Nails concert because she met her sales quota. At the time Sherika received the two tickets, they had a face value of $100 each and were selling on eBay for $200 each (which equaled the fair market value of the tickets). On the date of the concert, the tickets were selling for $300 each. Sherika and her daughter (Xiomara) attended the concert. How much gross income should Sherika report as a result of the tickets?

a. $600

b. $400

c. $200

d. $0

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M938857

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