Suppose that melissas permanent residence and business was

Assignment Help Accounting Basics
Reference no: EM13599256

Melissa recently paid $775 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses:

  • $390 fee to register for the conference,
  • $360 per night for three night's lodging,
  • $170 for meals, and
  • $485 for cab fare.

Suppose that Melissa's permanent residence and business was located in San Francisco. She attended the conference in San Francisco and paid $390 for the registration fee. She drove 50 miles over the course of three days and paid $110 for parking at the conference hotel. In addition, she spent $360 for breakfast and dinner over the three days of the conference. She bought breakfast on the way to the conference hotel and she bought dinner on her way home each night from the conference. What amount of the travel costs can Melissa deduct as business expenses? (Use standard mileage rate.)

Reference no: EM13599256

Questions Cloud

Should roi be the only gauge a company uses to evaluate : should roi be the only gauge a company uses to evaluate investments? also is it wise for a company to lose money on one
Container shipping inc is contemplating the use of process : container shipping inc. is contemplating the use of process costing to track the cost of its operations. the operation
Guenther firmin both of whom are cpas form a partnership : guenther firmin both of whom are cpas form a partnership with guenther investing 100000 and firmin 80000. they agree to
Adjusting entries are required at the end of the period to : adjusting entries are required at the end of the period to ensure that accrual accounting principles are applied. at
Suppose that melissas permanent residence and business was : melissa recently paid 775 for round-trip airfare to san francisco to attend a business conference for three days.
Douglas manufacturing company has two production : douglas manufacturing company has two production departments cutting and assembly. july 1 inventories are raw materials
On july 1 2010 brower industries inc issued 8000000 of : on july 1 2010 brower industries inc. issued 8000000 of 5-year 11 bonds at an effective interest rate of 12 receiving
Rick company has declared a 40000 cash dividend to : 1. brandon corporation issues 2000 shares of 40 per common stock for 43 per share. the amount credited to paid-in
What reservations might you have as to the engineers : 1. what reservations might you have as to the engineers estimate of useful life? why might any estimate of a highways

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd