Required information [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 $2,400 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,300. During the year, he drove his car a total of 13,000 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. Ryan can provide written documentation of the business purpose for trips totaling 2,600 miles. What business expense amount can Ryan deduct (if any) for these trips? Answer is complete but not entirely correct. Maximum deductible amount $ 480x
Required information [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 $2,400 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,300. During the year, he drove his car a total of 13,000 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. Ryan can provide written documentation of the business purpose for trips totaling 2,600 miles. What business expense amount can Ryan deduct (if any) for these trips? Answer is complete but not entirely correct. Maximum deductible amount $ 480x
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Manji
![Required information
[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 $2,400 for
gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,300. During
the year, he drove his car a total of 13,000 miles (a combination of business and personal travel).
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.
a. Ryan can provide written documentation of the business purpose for trips totaling 2,600 miles. What business expense amount can
Ryan deduct (if any) for these trips?
Answer is complete but not entirely correct.
Maximum deductible amount
$
480x](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe8457565-2051-43b0-af07-04ab9c34d1ae%2Fc271bed8-f4cc-41fc-8132-e7c8a8bbd9e4%2F62ieby_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[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 $2,400 for
gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,300. During
the year, he drove his car a total of 13,000 miles (a combination of business and personal travel).
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.
a. Ryan can provide written documentation of the business purpose for trips totaling 2,600 miles. What business expense amount can
Ryan deduct (if any) for these trips?
Answer is complete but not entirely correct.
Maximum deductible amount
$
480x
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