Question
Problem 9-32 (Algorithmic) (LO. 2) Jackson uses his automobile 70% for business and during 2017 drove a total of 27,600 business miles. Information regarding his
Problem 9-32 (Algorithmic) (LO. 2) Jackson uses his automobile 70% for business and during 2017 drove a total of 27,600 business miles. Information regarding his car expenses is listed below.
Business parking $ 230
Auto insurance 2,300
Auto club dues (includes towing service) 276
Toll road charges (business-related) 345
Oil changes and engine tune-ups 368
Repairs 253
Depreciation allowable 4,600
Fines for traffic violations (incurred during business use) 460
Gasoline purchases 5,060
What is Jackson's deduction in 2017 for the use of his car if he uses the actual cost method?
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Financial Accounting Theory And Analysis Text And Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
9th Edition
9780470128817
