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the sole proprietor of a consulting busines ting business and 6 days vacationing. His - fare dging eals (eaten at a restaurant) olf green fees (half was with a client) hou th ro trontod on Larny's

the sole proprietor of a consulting busines ting business and 6 days vacationing. His - fare dging eals (eaten at a restaurant) olf green fees (half was with a client) hou th ro trontod on Larny's

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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BUSINESS (and a bit of personal) TRAVEL Larry is the sole proprietor of a consulting business. This year, he took a business trip to Miami, spending 4 da conducting business and 6 days vacationing. His expenses for the entire trip were as follows: Air fare Lodging Meals (eaten at a restaurant) Golf green fees (half was with a client) Explain how the expenses are treated on Larry's return. Be very specific as to amounts and locations of reportable items. B. $ 700 1,000 600 450 no li Juo
Transcribed Image Text:BUSINESS (and a bit of personal) TRAVEL Larry is the sole proprietor of a consulting business. This year, he took a business trip to Miami, spending 4 da conducting business and 6 days vacationing. His expenses for the entire trip were as follows: Air fare Lodging Meals (eaten at a restaurant) Golf green fees (half was with a client) Explain how the expenses are treated on Larry's return. Be very specific as to amounts and locations of reportable items. B. $ 700 1,000 600 450 no li Juo
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