Ariana is a self-employed Instacart driver who works out of their home. Ariana does not have a designated work vehicle. During 2021, Ariana drove their vehicle 15,430 miles for business, and 5,467 miles for personal use. Other costs associated with the vehicle for the year were: Operating expenses (depreciation, oil, gas, license, insurance, repairs...) business-related tolls and parking fees $15,000 Documented -$139 Interest expense on the loan for the vehicle $284 How much will Ariana deduct as a business expense for using this vehicle under each method? O a) Standard rate $20,089; Actual cost $11,449

Ariana is a self-employed Instacart driver who works out of their home. Ariana does not have a designated work vehicle. During 2021, Ariana drove their vehicle 15,430 miles for business, and 5,467 miles for personal use. Other costs associated with the vehicle for the year were: Operating expenses (depreciation, oil, gas, license, insurance, repairs...) business-related tolls and parking fees $15,000 Documented -$139 Interest expense on the loan for the vehicle $284 How much will Ariana deduct as a business expense for using this vehicle under each method? O a) Standard rate $20,089; Actual cost $11,449

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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