Business, 28.02.2020 19:53 nathangirnet

While investigating an auto dealership you calculate the following [refer to the IRS’s ATG on Auto Dealerships]: From "window sticker": MSRP $10,000 Destination Charges 400 MSRP Retail Total $10,400 CASH IN CASH OUT Gross receipt $ 5,000,000 Cost of Goods Sold $ 4,900,000 Sch. C Expenses $ 95,000 Sch. C Depr $ 10,000 Meals $ 1,250 Bureau of Labor Statistics data $ 40,000 Cash In $ 5,000,000 Cash Out $ 5,026,250 From Dealer Invoice:

Vehicle Factory Wholesale Price $9,000 Destination Charges 400 Advertising Association 100 1% of MSRP Holdback 300 3% of MSRP Total Invoice Price $9,800 Holdback: coded amount is (300) 3% of MSRP Inventory Cost to the Dealer $9,500

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While investigating an auto dealership you calculate the following [refer to the IRS’s ATG on Auto D...

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