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Problem 9-31 (Algorithmic) (LO. 5) Stork Associates paid $57,000 for a 20-seat skybox at Veterans Stadium for eight professional football games. Regular seats to these
Problem 9-31 (Algorithmic) (LO. 5) Stork Associates paid $57,000 for a 20-seat skybox at Veterans Stadium for eight professional football games. Regular seats to these games range from $85 to $255 each. At one game, an employee of Stork entertained 18 clients. Stork furnished food and beverages for the event at a cost of $3,800. The game was preceded by a bona fide business discussion, and all expenses are adequately substantiated. > How much may Stork deduct for this event? 30 14 Problem 9-32 (Algorithmic) (LO. 5) During the current year, Paul, the vice president of a bank, made gifts in the following amounts: To Sarah (Paul's personal assistant) at Christmas $35 To Darryl (a key client)-$3 was for gift wrapping To Darryl's wife (a homemaker) on her birthday To Veronica (Paul's boss) at Christmas In addition, on professional assistants' day, Paul takes Sarah to lunch at a cost of $60. Presuming that Paul has adequate substantiation and is not reimbursed, how much can he deduct? Do not round intermediate computations. If required, round your final answer to the nearest cent. 30
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