What amount of the travel costs can melissa

Assignment Help Finance Basics
Reference no: EM132154734

Melissa recently paid $875 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses: $280 fee to register for the conference, $435 per night for three night's lodging, $275 for meals, and $235 for cab fare.

a.What amount of the travel costs can Melissa deduct as business expenses? (Round your answer to the nearest dollar amount.)

Deductible amount____?

b.Suppose that while Melissa was on the coast, she also spent two days sightseeing the national parks in the area. To do the sightseeing, she paid $1,740 for transportation, $820 for lodging, and $360 for meals during this part of her trip, which she considers personal in nature. What amount of the travel costs can Melissa deduct as business expenses? (Round your answer to the nearest dollar amount.)

Deductible amount____?

c.Suppose that Melissa made the trip to San Francisco primarily to visit the national parks and only attended the business conference as an incidental benefit of being present on the coast at that time. What amount of the airfare can Melissa deduct as a business expense? (Round your answer to the nearest dollar amount.)

Deductible amount____?

d.Suppose that Melissa's permanent residence and business was located in San Francisco. She attended the conference in San Francisco and paid $280 for the registration fee. She drove 144 miles over the course of three days and paid $166 for parking at the conference hotel. In addition, she spent $310 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? (Round your final answer to the nearest whole dollar amount.)

Deductible amount____?

Reference no: EM132154734

Questions Cloud

How the video-conferencing could be beneficial : With the updates planned for the network, President Coone wonders what other benefits could be derived from the network.
How much life insurance shaan and anita should carry : Anita is a "nonworking" spouse who devotes all of her time to household activities. Estimate how much life insurance Shaan and Anita should carry.
Design the conceptual schema of the university database : Partition the sentences (database requirement description in natural language) into homogeneous groups.
Determine how much insurance you should carry : If you are the wage earner in a "typical family," with $74,000 gross annual income. Use the easy method to determine how much insurance you should carry?
What amount of the travel costs can melissa : What amount of the travel costs can Melissa deduct as business expenses? (Round your answer to the nearest dollar amount.)
Write a script to display the percentage of rows below : Write a script to display the PERCENTAGE of rows BELOW and OVER the AVERAGE.
Investors and issuers of stock : What is ß and why is it important to investors and issuers of stock? Describe the behavior of stocks with ßs of greater than one, less than one.
Write a short sequence of assembly language to copy words : Use 1 dm and s t m to write a short sequence of assembly language to copy 16 words of data from a source address to a destination address.
Cash cycle and the operating cycle : What is the difference between the cash cycle and the operating cycle? Under what condition would they be the same?

Reviews

Write a Review

Finance Basics Questions & Answers

  What is the projected retained earnings

Assume the profit margin and dividend payout ratios are constant. What is the projected retained earnings on the Income Statement if sales increase by 7 percent

  List the potential costs associated with financial distress

List the potential costs associated with financial distress?- List the potential direct and indirect costs associated with bankruptcy?

  A 6-month put option on makler corps stock has a strike

a 6-month put option on makler corp.s stock has a strike price of 47.50 and sells in the market for 8.90. maklers

  What are stocks and bonds

Question 1: What are Stocks and Bonds? Describe how you could estimate their values. If you are investing in the stock market, which would you invest in and why?

  What was annual rate of appreciation in the value of house

You bought a house for $75,000 six years ago. The current market value of the house is $200,000. What was the annual rate of appreciation in the value.

  Explain what is the addition to retained earnings

Billy's Exterminators, Inc., has sales of $740,000, costs of $288,000, depreciation expense of $40,000, interest expense of $30,000.

  What are forward rates of interest

What are forward rates of interest? How are they determined? What do they have to do with indexes used to adjust ARM payments?

  Case study-break even analysis

Case Study 1 - Break Even Analysis Scenario: The BeDazzled Boutique is a tourist stop in downtown Belleville, MI.

  Prepare a table which clearly shows the balance on account

Prepare a table which clearly shows the balance on the account at the end of each year for the next 15 years.

  What is the dollar amount invested in stock

You have invested $71,815 portfolio in three securities. The three securities comprise of the risk-free asset, Stock A, and Stock B. The beta of stock A is 1.9 while the beta of stock B is 0.6. 11% of the portfolio is invested in the risk-free sec..

  Graph the one-month commercial paper rates

Graph the one-month commercial paper rates. What happened to the interest rate on commercial paper in the fall of 2008? Explain this change in the commercial paper market in the context of the financial panic occurring during the fall of 2008.

  Purchasing power parity and interest rate parity

Clearly explain why is meant by Purchasing Power Parity (PPP) and Interest Rate Parity (IRP). What evidence is there for and against this theory?

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