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WEL provides Lauren with a vehicle that she uses to drive her clients on tours. The vehicle was used by Lauren throughout 2020, aside form
| WEL provides Lauren with a vehicle that she uses to drive her clients on tours. The vehicle was used by Lauren throughout 2020, aside form the three months she was off work. WEL required her to return the car and keys. WEL pays all operating and maintenance costs, a total of $2,300 during the year. Details of the vehicle and kilometers driven are below. | |||||||
| Total km drive | 27,000 | ||||||
| Personal km driven | 8,200 | ||||||
| Monthly lease cost | 640 | ||||||
| Standby charge (reduced, if applicable) plus | |||||||
| Operating cost benefit, which is the lesser of: | |||||||
| 1/2 of reduced standby charge: | |||||||
| Or $0.28/km x personal km | |||||||
| Other - Indicate in column G | |||||||
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
5th International Edition
0132815591, 9780132815598
