FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Mrs. Janet is provided with an auto mobile by her employer. The employer acquired the auto mobile in 2015 for $25000 plus $1250 GST

image text in transcribed

1. Mrs. Janet is provided with an auto mobile by her employer. The employer acquired the auto mobile in 2015 for $25000 plus $1250 GST and $2000 PST. During 2016, Janet drive the auto mobile a total distance of 28000 kilometre, 16000 kilometre which were related to employment duties, the car is available throughout the year. Calculate Janet's minimum 2016 taxable benefit for the use of auto mobile

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cornerstones Of Financial Accounting

Cornerstones Of Financial Accounting

Authors: Bertrand Piccard, Jay Rich, Jeff Jones, Maryanne Mowen, Don Hansen, Nick Jones

1st Edition

0324657730, 9780324657739

More Books

Students also viewed these Finance questions

Question

★★★★★
Based upon the data in Exercise 20-14, determine the following: a. Cost of beginning work in process inventory completed in November. b. Cost of units transferred to the next department during...

Answered: 1 week ago

Question

★★★★★
The most important value chain relationships for a firm are those with suppliers in order to get the highest quality inputs, on time, at a competitive price. with customers in order to deliver the...

Answered: 1 week ago

Question

★★★★★
2.2 You are given n = 8 measurements: 3, 2, 5, 6, 4, 4, 3, 5. a. Find x. b. Find m. c. Based on the results of parts a and b, are the measurements symmetric or skewed? Draw a dotplot to confirm your...

Answered: 1 week ago

Question

★★★★★
In a multiple regression with four explanatory variables and 100 observations, it is found that SSR = 4.75 and SST = 7.62. a. Calculate the standard error of the estimate. b. Calculate the...

Answered: 1 week ago

Question

★★★★★
Six categories of costs associated with inventories are purchasing costs, ordering costs, carrying costs, stock out costs, quality costs, and shrinkage. Assume you are seasoned manager training new...

Answered: 1 week ago

Question

★★★★★
Data table Data table Data table 1. Prepare the company's income statement for the year ended December 31, 2024 2. Prepare the company's statement of retained earnings for the year ended December 31,...

Answered: 1 week ago

Question

★★★★★
During July, the following are given: Standard unit price 12.50 Standard Quantity Allowed for actual production 6,300 units Actual unit purchase price Quantity purchased and used for production...

Answered: 1 week ago

Question

★★★★★
An RFP is used for what type of procurement? Give an advantage and a disadvantage of the RFP process

Answered: 1 week ago

Question

★★★★★
You are the area manager of several starbucks and you make all of the decisions regarding land, building, and equipment. Additionally you are responsible for all of the profits of the starbucks in...

Answered: 1 week ago

Question

★★★★★
Question 26 2 Points Dalal faces a reoccurring situation every month, introducing a new product. Accordingly, she created a complex integration mechanism, a permanent committee responsible for...

Answered: 1 week ago

Question

★★★★★
An electronics company headquartered in India, manufacturer & supplier of semiconductor chips to automobile companies across Europe, US and Asia- the Pacific. Looking at the product market demand...

Answered: 1 week ago

Question

★★★★★
Identify the characteristics of people with low and high selfesteem.

Answered: 1 week ago

Question

★★★★★
1. During the next week, study the listening habits of students in another class in which you are enrolled. Keep a journal of your observations by identifying the nonverbal behaviors you witness. Are...

Answered: 1 week ago

Question

★★★★★
3. Many times, we take the conversation away from others and make it our own. This practice not only wastes time, but is a major relationship killer. Here is how it works: At the beginning of the...

Answered: 1 week ago

Previous Question Next Question