Ryan is self-employed. This year Ryan used his personal $1,740 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,800. During the year, he drove his car a total of 15,600 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Problem 9-51 Part-a (Algo) a. Ryan can provide written documentation of the business purpose for trips totaling 6,240 miles. What business expense amount can Ryan deduct (if any) for these trips?
Ryan is self-employed. This year Ryan used his personal $1,740 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,800. During the year, he drove his car a total of 15,600 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Problem 9-51 Part-a (Algo) a. Ryan can provide written documentation of the business purpose for trips totaling 6,240 miles. What business expense amount can Ryan deduct (if any) for these trips?
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
$1,740 for gasoline on these trips. His depreciation on the car if he was using it fully for business
purposes would be $4,800. During the year, he drove his car a total of 15,600 miles (a combination of
business and personal travel).
Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar
amount.
Problem 9-51 Part-a (Algo)
a. Ryan can provide written documentation of the business purpose for trips totaling 6,240 miles. What business expense
amount can Ryan deduct (if any) for these trips?
Maximum deductible amount
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