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

Required information [The following information applies to the questions displayed below.] Carl purchased an apartment complex for $3.5 million on March 17 of year 1. of the purchase price, $1,500,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $84,000. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Note: Enter your answers in dollars and not in millions of dollars. b. What is Carl's allowable depreciation deduction for year 3 if the real property is sold on January 2 of year 3? Note: Do not round intermediate computations. Round your final answer to the nearest whole dollar amount. Depreciation for year 3

Required information [The following information applies to the questions displayed below.] Carl purchased an apartment complex for $3.3 million on March 17 of year 1. of the purchase price, $1,400,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $82,000. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Enter your answers in dollars and not in millions of dollars.) a. What is Carl's allowable depreciation deduction for his real property for years 1 and 2? (Round your final answers to the nearest whole dollar amount.) Depreciation Deduction Year 1

In the financial year ended 31 December 2009, Sister Edith sold a car for $15,000. The car had been bought on 2 January 2006 for $45,000. Sister Edith depreciates motor vehicles on the reducing balance basis at a rate of 20% per annum. She charges a full year's depreciation in the year an asset is bought, and no depreciation in the year it is sold. What is the profit or loss on disposal of the car?

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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 $2,080 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 12,600 miles (a combination of business and personal travel). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. a. Ryan can provide written documentation of the business purpose for trips totaling 2,520 miles. What business expense amount can Ryan deduct (if any) for these trips? Maximum deductible amount

Please do a-c a. The vehicle cost $31,200, and business use is 100 percent (ignore §179 expense). b. The vehicle cost $76,000, and business use is 100 percent. c. The vehicle cost $76,000, and she used it 80 percent for business. d. The vehicle cost $80,000, and she used it 80 percent for business. She sold it on March 1 of year 2. e. The vehicle cost $76,000, and she used it 20 percent for business. f. The vehicle cost $76,000, and it is an SUV that weighs 6,500 pounds. Business use was 100 percent.

S Required information [The following information applies to the questions displayed below.] Carl purchased an apartment complex for $3.5 million on March 17 of year 1. of the purchase price, $1,500,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $84,000. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Note: Enter your answers in dollars and not in millions of dollars. a. What is Carl's allowable depreciation deduction for his real property for years 1 and 2? Note: Round your final answers to the nearest whole dollar amount. Year 1 Year 2 Depreciation Deduction

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