1 Required information Problem 01-51 (LO 01-2) (Algo) [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 $2,500 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 16,200 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 01-51 Part-a (Algo) a. Ryan can provide written documentation of the business purpose for trips totaling 4,860 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount en 1.637
1 Required information Problem 01-51 (LO 01-2) (Algo) [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 $2,500 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 16,200 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 01-51 Part-a (Algo) a. Ryan can provide written documentation of the business purpose for trips totaling 4,860 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount en 1.637
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
Problem 01-51 (LO 01-2) (Algo)
[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 $2,500 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 16,200 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 01-51 Part-a (Algo)
a. Ryan can provide written documentation of the business purpose for trips totaling 4,860 miles. What business expense amount can
Ryan deduct (if any) for these trips?
Maximum deductible amount
en
1.637](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F66798cf1-a203-4939-93f3-81ce39889947%2F39765fe0-8973-465b-8bd6-d1ce78f0179b%2Fbv86o23_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1
Required information
Problem 01-51 (LO 01-2) (Algo)
[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 $2,500 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 16,200 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 01-51 Part-a (Algo)
a. Ryan can provide written documentation of the business purpose for trips totaling 4,860 miles. What business expense amount can
Ryan deduct (if any) for these trips?
Maximum deductible amount
en
1.637
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