In 2020, Ingenieros Villalongo & Co. obtained a consulting contract on the island of San...
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Accounting
In 2020, Ingenieros Villalongo & Co. obtained a consulting contract on the island of San Thomas for the construction of a resort. The firm sent two engineers to St. Thomas and the following expenses were incurred: Airfare $ 800, taxi $ 50, hotel stay $ 600, meals with clients $ 400, and excursions to beaches on the island of St. Thomas and neighboring islands after hours of work $ 300.
Determine how much of the expenses incurred on the trip to St. Thomas are ordinary and necessary expenses for the engineering firm in 2020. Present your calculations.
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