2. June uses her personal car for work as an employee. For the year, June drove 5,000 business miles and 30,000 total miles. Her car-related expensesinclude $4,000 for gas; $600 for insurance; $200 for registration fees; $3,000 depreciation, and $100 for business-related parking and tolls. June'semployer does not reimburse her for the use of her car. Using the actual method, not mileage method, What is June's car expense deduction for theyear?

Actual expense method is defined as the procedure used for calculating and claiming the total…

Answered: 2. June uses her personal car for work…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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