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Angelina_Jolie [31]
3 years ago
12

Susan Barnes is a self-employed consultant. She travels to Chicago on June 30th for business purposes. She attends business meet

ing on July 1st and 2nd. She takes personal time on the 3rd and 4th of July. On the 5th of July, she returns home. She incurs the following expenses: Flight charge: $480 Lodging: $200 per day for June 30th, July 1st, July 2nd, July 3rd, and July 4th. Meals: 6/30: $40; 7/1: $70; 7/2: $70; 7/3: $70; 7/4: $70; 7/5: $40 What is Susan total deductible business expense for travel
Business
1 answer:
larisa [96]3 years ago
6 0

Answer:

Susan Barnes

Total deductible business expenses:

= $1,300.

Explanation:

a) Data and Calculations:

Dates for business meetings = July 1st and 2nd

Flight charge = $480

Lodging for 3 days = $600 ($200 *3)

Meals for 3 days:

6/30: $40;

7/1:    $70;

7/2:   $70

7/5: $40

Total  for meals = $220

Total business expense = $1,300 ($480 + $600 + $220)

b) According to the IRS (Internal Revenue Service), business expenses have been defined as any expenses that are "helpful and appropriate" for a business.  This definition excludes lodging and meal expenses incurred by Susan on July 3rd and July 4th, when she takes personal time.

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Ben and Chris combined their love of football with a business venture. They purchased a small portable cart and began selling fo
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In December 2008, Hawaiian Telecom took action to strengthen its balance sheet by reducing debt. Although the company continued
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1. Reorganization

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4 0
3 years ago
The common stock of dayton repair sells for $43.19 a share. the stock is expected to pay $2.28 per share next year when the annu
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Hello there!

Answer:

7.43%

Explanation:

To find the market rate of return on the Dayton repair stock, we would need  to use it's selling price, expected pay, and the 2.15%.

Lets solve:

First, we divide 2.28 by 43.19.

2.28 ÷ 43.19 = 0.0527899976846492

Now we add the 2.15%. In order for us to add it, we would need to move the decimal places two times to the left. We would add 0.0215 to 0.0527899976846492.

0.0527899976846492 + 0.0215 = 0.0742899976846492

Now we would need to move the decimal places over, and round to the nearest hundredths.

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The 8 would round and change the 2 into a 3

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The market rate of return for the stock would be 7.43%

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3 years ago
Bill is a construction worker who was laid off because the market for new homes has been adversely affected in the recession. bi
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Cyclical unemployment is a type of unemployment that occurred due to the ups and downs of business cycles – where it would be low when the economic conditions are good, and it would be high when the economic conditions are bad.

Cyclical unemployment is part of the natural rate types of unemployment, together with structural and frictional.

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