Reference no: EM132741853
Question - Mr. Alonso Sotomeyer is required by his employer to use his own automobile in the course of his employment. His total automobile costs for the year, are as follows:
Gasoline Receipts - $5,200
Repairs and maintenance - 1,000
Insurance for the year - 1,200
Lease costs for the year (1,250 per month) - 15,000
To compensate him, his employer pays an annual allowance of $12,000. During 2020, he drove his automobile a total of 48,260 kilometers, of which, 19,960 were employment related. What amounts will Mr. Sotomeyer include and deduct from his 2020 employment income related to the use of his automobile?
What is the price today for the bond
: Interest rates in general have changed and the yield to maturity on the bonds is now 10.07%. given this information, what is the price today for the bond?
|
What nelson should record the cost of the land
: What Nelson should record the cost of the land and new building, respectively, as? (Salvaged materials resulting from demolition were sold for €10,000.)
|
Prepare the journal entry to record the investment
: In January 2020, Nick Knacks and Emi Nems agreed to produce and sell chocolate candies. Knacks contributed P 2400,000 in cash to the business.
|
Evaluate the benefits of introducing non-statutory profit
: Evaluate the benefits and implications of introducing non-statutory profit measures and 'other value added' statements into the Annual Report
|
What amounts will Mr Sotomeyer include and deduct
: What amounts will Mr. Sotomeyer include and deduct from his 2020 employment income related to the use of his automobile
|
How much should northup receive as remittance
: On November 30, 20x1, Northup Co. consigned 90 freezers to Watson Co. for sale at ?1,600 each and paid ?1,200in transportation costs. A report of sales was.
|
Compute the mcnamara agi
: Compute the McNamara's AGI. Show your work. Valerie (age 52) & Stephen (age 55) McNamara have been married for 25 years and have one adult child
|
What income and loss must jacob report on his current return
: What income and loss must Jacob report on his current return as a result of owning the Babylon stock (ignoring the at-risk and passive activity limitations)
|
What should be bonita earnings per common share
: Bonita Industries had 302000 shares of common stock issued and outstanding at December 31, 2017. During 2018, no additional common stock was issued.
|