Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Scott Butterfield is self-employed as a CPA. He uses the cash method of accounting, and his Social Security number is 644-47-7833. His principal business

1. Scott Butterfield is self-employed as a CPA. He uses the cash method of accounting,

and his Social Security number is 644-47-7833. His principal business

code is 541211. Scotts CPA practice is located at 678 Peso Dr., La Mesa, CA

92041. During 2014, Scott had the following income and expenses:

Fees from CPA practice $128,250

Expenses:

Car mileage (3,202 business miles) 1,793

Business insurance 870

Office expense 3,450

Rent on office space 8,400

City business license 150

Travel expense 4,100

Meals and entertainment (100%) 4,780

Utilities 1,625

Wages of secretary 25,700

Scott placed his car in service on January 1, 2009. This year, he commuted

2,000 miles in it and drove it 4,000 miles for nonbusiness purposes. His wife has a car

for personal use.

Complete Schedule C on Pages 3-41 and 3-42 for Scott showing Scotts net

income from self-employment.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing

Authors: Timothy J. Ph.D. Robertson, Jack C.; Louwers

9th Edition

0072906952, 9780072906950

More Books

Students also viewed these Accounting questions