Proper substantiation-brennans deduction


Problem: Brennan entertains one of his clients on January 1 of the current year. Expenses paid by Brennan are as follows:

Cab fare                             10
Cover charge at supper club 50
Dinner at club                     200
Tips to waiter                       60

Presuming proper substantiation, Brennan's deduction is:

a. $160.

b. $165.

c. $260.

d. $320.

e. None of the above.

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Accounting Basics: Proper substantiation-brennans deduction
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