Question
Adam Weiss, President of PRP Company, incurred the following entertainment expenses that were reimbursed by the company under its accountable plan. Dinner meetings with clients
Adam Weiss, President of PRP Company, incurred the following entertainment expenses that were reimbursed by the company under its accountable plan.
| Dinner meetings with clients | $14,000 |
| Theater tickets where business was discussed after the show | 300 |
| Dinner with friends but business was discussed | 750 |
| Country club dues | 10,000 |
| Dinner meetings with clients at the country club | 5,000 |
What is the amount of the deduction that PRP can take of Adam's reimbursed expenses?
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins
4th Edition
0073527092, 978-0073527093
