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Car expenses using logbook and expense data Rory derives business income from a retail cosmetics store. On 1 October 2023, Rory bought a Mercedes for
Car expenses using logbook and expense data Rory derives business income from a retail cosmetics store. On 1 October 2023, Rory bought a Mercedes for $38,340. Its effective life is eight years. Rory kept a logbook for 12 weeks which disclosed the following: Travel from home to the shop and return 2,735Km Travel from the shop to college (Rory is studying a course in fitness training) 370Km Travel from college to home 735Km Travel to customers and suppliers 3,460Km The logbook is representative of the entire year. Odometer records showed a total of 23,840 kilometres travelled during the period up to 30 June 2024. Rory also kept receipts and records which show the following costs: Petrol and Repairs $ 2,850 Excess on Insurance for Repairs $ 600 Car Washes $ 930 Registration and Insurance $ 1,735 Parking at Airport (during a business trip) $ 380 Determine the maximum amount of any deductions available to Rory.
| Car expenses using logbook and expense data | |
| Rory derives business income from a retail cosmetics store. On 1 October 2023, Rory bought a | |
| Mercedes for $38,340. Its effective life is eight years. Rory kept a logbook for 12 weeks which | |
| disclosed the following: | |
| Travel from home to the shop and return | 2,735Km |
| Travel from the shop to college (Rory is studying a course in fitness training) | 370Km |
| Travel from college to home | 735Km |
| Travel to customers and suppliers | 3,460Km |
| The logbook is representative of the entire year. Odometer records showed a total of 23,840 | |
| kilometres travelled during the period up to 30 June 2024. | |
| Rory also kept receipts and records which show the following costs: | |
| Petrol and Repairs | $ 2,850 |
| Excess on Insurance for Repairs | $ 600 |
| Car Washes | $ 930 |
| Registration and Insurance | $ 1,735 |
| Parking at Airport (during a business trip) | $ 380 |
| Determine the maximum amount of any deductions available to Rory. |
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An Introduction to Management Science Quantitative Approach to Decision Making
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
15th edition
978-1337406529
