Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 19 1 points Violet operates her own legal practice in Wagga Wagga along with her three employees. She incurred the following expenses during the

image text in transcribed
Question 19 1 points Violet operates her own legal practice in Wagga Wagga along with her three employees. She incurred the following expenses during the current year of income. Aset of law reports containing all decided cases relevant to commercial law purchased for $4,300 on 1 August 2019. The reports will be used in the firm for years to come. An annual subscription of 550 for a weekly low webinar paid on 15 March 2020, Professional indemnity insurance premium (for one year) of $2,700 paid on 1 July 2019. Travelling costs of $450 paid to a prospective employee to attend an employment interview. The prospective employee flew from Adelaide to Woggs Wages and Violet reimbursed the costs of the travel Morning teas provided to employees during the year cost 1,100. What is the total amount that is deductible under s 8-1 ITAA97 for the above expenditure during the year? O $550 54.250 55,200 $4,800 0 $4,300 Question 19 1 points Violet operates her own legal practice in Wagga Wagga along with her three employees. She incurred the following expenses during the current year of income. Aset of law reports containing all decided cases relevant to commercial law purchased for $4,300 on 1 August 2019. The reports will be used in the firm for years to come. An annual subscription of 550 for a weekly low webinar paid on 15 March 2020, Professional indemnity insurance premium (for one year) of $2,700 paid on 1 July 2019. Travelling costs of $450 paid to a prospective employee to attend an employment interview. The prospective employee flew from Adelaide to Woggs Wages and Violet reimbursed the costs of the travel Morning teas provided to employees during the year cost 1,100. What is the total amount that is deductible under s 8-1 ITAA97 for the above expenditure during the year? O $550 54.250 55,200 $4,800 0 $4,300

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

Step: 3

blur-text-image

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

Financial Accounting Theory

Authors: Craig Deegan

3rd Edition

0070277265, 978-0070277267

More Books

Students also viewed these Accounting questions