1. Johnathan is an accountant who works for Reading Railroad Ltd, which is a public company. He earns $80000 in wages during the 2020 year. His employer withheld $2,732 of CPP from his paycheques, $856 of EI, and $12,000 of income tax, so that he only received $64,412.00 cash throughout the year.

2. Johnathan moved during the year for work. It was an eligible relocation. His employer reimbursed the loss on the sale of his old residence. The amount of the loss reimbursement was $50000.

3.Johnathan was provided a private health care plan for his family. The employer paid $3000 of premiums for this plan. He also earned a cash bonus of $800 for being the hardest working during the year. Additionally, he received a large painting as a Christmas present from his employer, which has a value of $1200

4. Johnathan went on a work trip to Florida to go to several conferences. His trip was 100% for employment purposes. He also brought his spouse and daughter along, and the two of them enjoyed going to the beach in Florida for several days while Johnathan attended his conferences. Johnathan's employer paid for the plane tickets for all three of them, which cost $1300 each.

5.Johnathan wanted to improve his skillset and requested that his employer pay for him to take several courses. His employer paid for him to take a bookkeeping/accounting course for $1,500. Additionally, Johnathan is very interested in starting a side hustle as an Instragram Influencer. Despite this course having nothing to do with his current position, his employer also agreed to pay for him to take an Instagram Influencer Marketing 101 course to reward him for all his hard work, since Johnathan had a personal interest in it. The tuition cost $950.

6. Johnathan sometimes was not very fashionable, so his employer decided to improve his wardrobe by providing him with several new suit jackets. The employer was hoping Johnathan would wear these to work, but Johnathan could also use these jackets for personal purposes as well, since they were not distinctive uniforms specific to his place of work. The employer thought this would help him appear more professional to clients at work. The three suit jackets were valued at $2000 total.

7. Johnathan was also provided with an employer-owned automobile. The vehicle was available to him throughout the year. He drove the vehicle 30,000 kilometres this year, 5000 kilometres of which were for employment purposes. The vehicle was purchased in 2016 for $60000, plus $7800 HST. His employer also pays for all of the vehicle operating costs, which totalled $16,000 this year.

8. In 2017, Johnathan was granted stock options from his employer to buy 1000 of his employer's shares at a price of $30 per share. On the grant date, the shares were trading at $50 per share. In November 2020, he exercises all of the options when the shares are trading at $100 per share. He still owns all of these shares at the end of 2020.

9. Readinf Railroad Ltd. contributed $7500 to Johnathan's Defined Contributed Registered Pension Plan during the year. in accordance with his pension plan agreement, Johnathan contributed $3750 to his own RPP during the year, as well

Required: compute Johnathan's 2020 net employment income.

a Take home assignment 3043 - Excel Sign in File Home Insert Page Layout Formulas Data Review View Developer Help QuickBooks Tell me what you want to do & Share >AutoSum - A Calibri 11 A ab Wrap Text 4 * Cut e Copy Format Painter BO Fill Paste BI U 03 - A === Merge & Center - $ % ) 8.09 Insert Delete Format Conditional Format as Formatting Table Clear Sort & Find & Filter - Select Editing Clipboard Font Alignment Number Styles Cells B10 X f J K L M N o P Q R S B C D E F G H 1 1 Problem 2: Chapter 3 MARKS 0 2 3 Fill in the appropriate employment income inclusions and deductions in the yellow boxes beside each relevant line item. Inclusions should be entered as a positive number; deductions should be entered as a negative number. Your additional work and notes (required for this question) should be entered in the green space. If a 4 particular line item does not impact employment income because it is not taxable or deductible, enter O beside it in the yellow box. 5 6 Show additional work & notes here (required for this question): 7 1. Employment income 80,000.00 8 2. Eligible housing loss reimbursement 0.00 9 3. Private health care plan 10 3. Cash bonus 11 3. Painting- Christmas present 12 4. Plane tickets to Florida 13 5. Bookkeeping/ accounting course 14 5. Instagram Influencer Marketing 101 course 15 6. New suit jackets 16 7. Automobile- Standby charge 17 7. Automobile-Operating cost benefit 18 8. Stock options-employment benefit 19 9. Registered pension plan-employer contributions 20 9. Registered pension plan- Johnathan's contributions 21 22 Net employment income 80,000.00 formulized- do not type over 23 24 25 26 27 28 29 30 31 P1 - Instructions P1- Response P2- Instructions P2- Response P3 - Instructions P3- Response P4- Instructions P4- Response + Ready 1 + 115% HH Type here to search EP Ps OP 11:16 PM 2021-03-27 Ca 4) ENG 99+ ma c a Take home assignment 3043 - Excel Sign in File Home Insert Page Layout Formulas Data Review View Developer Help QuickBooks Tell me what you want to do & Share >AutoSum - A Calibri 11 A ab Wrap Text 4 * Cut e Copy Format Painter BO Fill Paste BI U 03 - A === Merge & Center - $ % ) 8.09 Insert Delete Format Conditional Format as Formatting Table Clear Sort & Find & Filter - Select Editing Clipboard Font Alignment Number Styles Cells B10 X f J K L M N o P Q R S B C D E F G H 1 1 Problem 2: Chapter 3 MARKS 0 2 3 Fill in the appropriate employment income inclusions and deductions in the yellow boxes beside each relevant line item. Inclusions should be entered as a positive number; deductions should be entered as a negative number. Your additional work and notes (required for this question) should be entered in the green space. If a 4 particular line item does not impact employment income because it is not taxable or deductible, enter O beside it in the yellow box. 5 6 Show additional work & notes here (required for this question): 7 1. Employment income 80,000.00 8 2. Eligible housing loss reimbursement 0.00 9 3. Private health care plan 10 3. Cash bonus 11 3. Painting- Christmas present 12 4. Plane tickets to Florida 13 5. Bookkeeping/ accounting course 14 5. Instagram Influencer Marketing 101 course 15 6. New suit jackets 16 7. Automobile- Standby charge 17 7. Automobile-Operating cost benefit 18 8. Stock options-employment benefit 19 9. Registered pension plan-employer contributions 20 9. Registered pension plan- Johnathan's contributions 21 22 Net employment income 80,000.00 formulized- do not type over 23 24 25 26 27 28 29 30 31 P1 - Instructions P1- Response P2- Instructions P2- Response P3 - Instructions P3- Response P4- Instructions P4- Response + Ready 1 + 115% HH Type here to search EP Ps OP 11:16 PM 2021-03-27 Ca 4) ENG 99+ ma c