Marc Lusebrink, sole proprietor of Oak Company, bought a used automobile that was driven 13,000...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Marc Lusebrink, sole proprietor of Oak Company, bought a used automobile that was driven miles during all for business purposes. Total miles including business miles is His total expenses for his automobile for the year are:Line Item DescriptionAmountGasoline$Oil changesInsuranceTiresRepairsTotal$The automobile cost $ on January and total depreciation for the year, including personal use, was $ His business parking and toll fees for business amount to $Calculate Marc's transportation expense deduction for the year under each method listed below.Round business use to the two decimal percentages. If required, round your answers to the nearest dollar.Standard Mileage Method: fill in the blank of $Actual Cost Method: fill in the blank of $Which method should Marc use? 
Marc Lusebrink, sole proprietor of Oak Company, bought a used automobile that was driven miles during all for business purposes. Total miles including business miles is His total expenses for his automobile for the year are:Line Item DescriptionAmountGasoline$Oil changesInsuranceTiresRepairsTotal$The automobile cost $ on January and total depreciation for the year, including personal use, was $ His business parking and toll fees for business amount to $Calculate Marc's transportation expense deduction for the year under each method listed below.Round business use to the two decimal percentages. If required, round your answers to the nearest dollar.Standard Mileage Method: fill in the blank of $Actual Cost Method: fill in the blank of $Which method should Marc use?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.