Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This is one question but has two parts. Please bold final answer and show work. Thank you Required information Problem 9-51 (LO 9-2) (Algo) [The

This is one question but has two parts. Please bold final answer and show work. Thank you

image text in transcribedimage text in transcribed

Required information Problem 9-51 (LO 9-2) (Algo) [The following information applies to the questions displayed below.] Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $2,330 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,600. During the year, he drove his car a total of 13,300 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. roblem 9-51 Part-a (Algo) Ryan can provide written documentation of the business purpose for trips totaling 3,990 miles. What business expense amount can lan deduct (if any) for these trips? Required information Problem 9-51 (LO 9-2) (Algo) [The following information applies to the questions displayed below.] Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $2,330 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,600. During the year, he drove his car a total of 13,300 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. oblem 9-51 Part-b (Algo) Ryan estimates that he drove approximately 1,865 miles on business trips, but he can only provide written documentation of the siness purpose for trips totaling 1,000 miles. What business expense amount can Ryan deduct (if any) for these trips

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_2

Step: 3

blur-text-image_3

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

Edi Audit And Control

Authors: I. Walden, A. Braganza

3rd Edition

1855542080, 978-1855542082

More Books

Students also viewed these Accounting questions

Question

Understand the different approaches to job design. page 167

Answered: 1 week ago