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Kristen, an independent management consultant, is based in Atlanta. During March and April of 2021, she is contracted by a national hardware chain to help implement revised human resource policies in Jackson (Mississippi) temporarily. During this period, Kristen flies to Jackson on Sunday night, spends the week at the district office, and returns home to Atlanta on Friday afternoon. The cost of returning home is $550, and the cost of spending the weekend in Jackson would have been $490. a. Presuming no reimbursement for these expenses, how much, if any, of these weekend expenses may Kristen deduct? b. What would your answer be if the amounts involved were reversed (i.e., the trip home would have cost $490; staying in Jackson would have been $550)? Kristen may deduct $ as weekend expenses.

Kristen, an independent management consultant, is based in Atlanta. During March and April of 2021, she is contracted by a national hardware chain to help implement revised human resource policies in Jackson (Mississippi) temporarily. During this period, Kristen flies to Jackson on Sunday night, spends the week at the district office, and returns home to Atlanta on Friday afternoon. The cost of returning home is $550, and the cost of spending the weekend in Jackson would have been $490. a. Presuming no reimbursement for these expenses, how much, if any, of these weekend expenses may Kristen deduct? b. What would your answer be if the amounts involved were reversed (i.e., the trip home would have cost $490; staying in Jackson would have been $550)? Kristen may deduct $ as weekend expenses.

FINANCIAL ACCOUNTING
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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Problem 9-23 (LO. 3) Kristen, an independent management consultant, is based in Atlanta. During March and April of 2021, she i contracted by a national hardware chain to help implement revised human resource policies in Jackson (Mississippi) temporarily. During this period, Kristen flies to Jackson on Sunday night, spends the week at the district office, and returns home to Atlanta on Friday afternoon. The cost of returning home is $550, and the cost of spending the weekend in Jackson would have been $490. a. Presuming no reimbursement for these expenses, how much, if any, of these weekend expenses may Kristen deduct? b. What would your answer be if the amounts involved were reversed (i.e., the trip home would have cost $490; staying in Jackson would have been $550)? Kristen may deduct $ as weekend expenses.
Transcribed Image Text:Problem 9-23 (LO. 3) Kristen, an independent management consultant, is based in Atlanta. During March and April of 2021, she i contracted by a national hardware chain to help implement revised human resource policies in Jackson (Mississippi) temporarily. During this period, Kristen flies to Jackson on Sunday night, spends the week at the district office, and returns home to Atlanta on Friday afternoon. The cost of returning home is $550, and the cost of spending the weekend in Jackson would have been $490. a. Presuming no reimbursement for these expenses, how much, if any, of these weekend expenses may Kristen deduct? b. What would your answer be if the amounts involved were reversed (i.e., the trip home would have cost $490; staying in Jackson would have been $550)? Kristen may deduct $ as weekend expenses.
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