Ask Experts Questions for FREE Help !
Ask
    sandman1's Avatar
    sandman1 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Mar 22, 2006, 07:10 PM
    Accounting Help
    1. On March 1, 2004 Leo leases and places in service a passenger automobile. The lease will run for five years and the payments are $380 per month. During 2004, he uses his car 80% for business and 20% for personal activities. Assuming the dollar amount from the IRS table is $19, determine Leo's inclusion amount.
    a. $0
    b. $10
    c. $13
    d. $15
    e. $19

    Can someone help me with this question. Thanks!
    sandman1's Avatar
    sandman1 Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Mar 23, 2006, 06:02 PM
    Can anyone help me with this? :eek:
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Accounting [ 1 Answers ]

On January 1, 2002 Fulbrite Services Inc. purchased a new machine for $600,000. The machine had an estimate useful life of eight years and a salvage value of $150,000. Fulbrite elected to depreciate the machine using the double declining balance method. ON January 1, 2005, the company decided...

Accounting [ 2 Answers ]

Required: Using the direct method, convert the company’s income statement to a cash basis. December 31 2002 2001 Cash $ 4 7 Accounts Receivable 36 29 Inventory 75 61 Plant and equipment 210 180 Accumulated depreciation (40) ...

Accounting help [ 11 Answers ]

Audry, age 38 and single, earned a salary of $59,000. She had interest income of $1,600 and had a $2,000 long-term capital loss from the sale of a stock investment. Audry incurred the following employment-related expenses during the year: Transportation $5,500 Meals 2,800 Lodging 4,200...

Accounting [ 2 Answers ]

How do I find the double decling-balance method. For my straight-line method I got At the beginning of the current year, Phoenix Company acquired an item of machinery for 160,000. The machinery had a life expectancy of four years an estimated salvage value of 16,000. For the straight-line...

View more questions Search