Answer to QCar expenses using logbook and expense data
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Car expenses using logbook and expense data
Rory derives business income from a retail cosmetics store. On
october Rory bought a Mercedes for $ Its effective life is
eight years. Rory kept a logbook for weeks which disclosed the
following:
Travel from home to the shop and return
Travel from the shop to college Rory is studying a
course in fitness training
Travel from college to home
Travel to customers and suppliers
The logbook is representative of the entire year. Odometer records
showed a total of kilometres travelled during the period up to
June
Rory also kept receipts and records which show the following costs:
Petrol and Repairs
Excess on Insurance for repairs
Car Washes
Registration and Insurance
Parking at Airport during a business trip
Determine the maximum amount of any deductions available to
Rory.
