[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 $2.010 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,500. During the year, he drove his car a total of 16,400 miles (a combination of business and personal travel). (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount.)
[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 $2.010 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $4,500. During the year, he drove his car a total of 16,400 miles (a combination of business and personal travel). (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:b. Ryan estimates that he drove approximately 1,525 miles on business trips, but he can only provide written
documentation of the business purpose for trips totaling 860 miles. What business expense amount can Ryan
deduct (if any) for these trips?
Maximum deductible amount
![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 $2,010 for gasoline on these trips. His depreciation on the car if he was using it
fully for business purposes would be $4,500. During the year, he drove his car a total of 16,400
miles (a combination of business and personal travel). (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 totalling 6,560 miles. What business
expense amount can Ryan deduct (if any) for these trips?
Maximum deductible amount](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1d9841d3-8401-44fd-b687-be9479e0ce7d%2Ff3634ab3-eab1-4d9e-afb6-5910e679d8bf%2Fgydgoef_processed.png&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 $2,010 for gasoline on these trips. His depreciation on the car if he was using it
fully for business purposes would be $4,500. During the year, he drove his car a total of 16,400
miles (a combination of business and personal travel). (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 totalling 6,560 miles. What business
expense amount can Ryan deduct (if any) for these trips?
Maximum deductible amount
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