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Accounting
Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $ 1,500 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his car a total of 12,000 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 3,000 miles. What business expense amount can Ryan deduct (if any) for these trips?

Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $ 1,500 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his car a total of 12,000 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 3,000 miles. What business expense amount can Ryan deduct (if any) for these trips?

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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Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $ 1,500 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his car a total of 12,000 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 3,000 miles. What business expense amount can Ryan deduct (if any) for these trips?
Transcribed Image Text:Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $ 1,500 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,000. During the year, he drove his car a total of 12,000 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 3,000 miles. What business expense amount can Ryan deduct (if any) for these trips?
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