Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jan 30, 2022

Amna is a Manitoba resident who purchases an automobile for $60,000 plus GST and PST. She will use this automobile 70% in running her

Amna is a Manitoba resident who purchases an automobile for $60,000 plus GST and PST. She will use this automobile 70% in run

Amna is a Manitoba resident who purchases an automobile for $60,000 plus GST and PST. She will use this automobile 70% in running her small business and 30% for personal use. How much ITC can Amna claim? Manitoba's PST rate is 7%. Multiple Choice $3.000 $2,100 $1,050 $0

Step by Step Solution

★★★★★

3.49 Rating (169 Votes )

There are 3 Steps involved in it

Step: 1

solution Cost of cutomabel... 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

Step: 3

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

Federal Taxation 2019 Individuals

Authors: Timothy J. Rupert, Kenneth E. Anderson

32nd Edition

134739671, 134740386, 9780134740386, 978-0134739670

More Books

Students also viewed these Accounting questions

Question

★★★★★

Trish is a self-employed CPA ,vho purchases an automobile for $72,000 and places it into service in 2018. Calculate Trish's current year MACRS depreciation deduction, assuming she does not elect Sec....

Answered: 1 week ago

Question

★★★★★

When a taxpayer purchases an automobile for use in a trade or business, what limits are placed on the cost recovery on the automobile?

Answered: 1 week ago

Question

★★★★★

Multiple Choice Questions 1. Personal income tax revenue a. 6 only b. 2 only c. 4 only d. 2 and 4 2. Accrued postemployment benefit liability, governmental fund employees a. I and 3 b. 1 only c. 3...

Answered: 1 week ago

Question

★★★★★

The labor force participation rate is increasing in Japan because... a) there are fewer unemployed people b) the working age population is increasing c) retirement ages are increasing d) more women...

Answered: 1 week ago

Question

★★★★★

The U.S. Department of Transportation reported that during November, 83.4% of Southwest Airlines' flights, 75.1% of US Airways' flights, and 70.1% of JetBlue's flights arrived on time (USA Today,...

Answered: 1 week ago

Question

★★★★★

What are tools and responsibilities of the Fed in monitoring and affecting the level of the stock market?

Answered: 1 week ago

Question

★★★★★

2.1 You are given n = 5 measurements: 0, 5, 1, 1, 3. a. Draw a dotplot for the data. (HINT: If two measurements are the same, place one dot above the other.) Guess the approximate "centre." b. Find...

Answered: 1 week ago

Question

★★★★★

A plane wall of a furnace is fabricated from plain carbon steel (k = 60 W/m K, p = 7850 kg/m 3 , c = 430 J/kg K) and is of thickness L = 10 mm. To protect it from the corrosive effects of the...

Answered: 1 week ago

Question

★★★★★

Discuss the advantages and disadvantages of Activity?Based Management.

Answered: 1 week ago

Question

★★★★★

Company A is a global company based in the United States that operates in the financial industry. Company A serves its customers with financial products, such as checking accounts, bank cards, and...

Answered: 1 week ago

Question

★★★★★

What ways does organizational culture serve as a mechanism for social cohesion, and how does it impact employee engagement, retention, and overall job satisfaction ?

Answered: 1 week ago

Question

★★★★★

Imagine your sister calls you and starts sharing the difficulty she is having at work with the team she is leading. Many members of her team are experiencing interpersonal conflict with each other...

Answered: 1 week ago

Question

★★★★★

Subject :- CREDIT & RISK MANAGEMENT Total Marks: 10 SEMESTER FALL 2021 CREDIT & RISK MANAGEMENT (FIN625) Assignment 2 - Due Date: February 22, 2022 Topic: COLLATERAL ABC bank is a well-established...

Answered: 1 week ago

Question

★★★★★

Portions of the financial statements for Parnell Company are provided below. PARNELL COMPANY Income Statement For the Year Ended December 31, 2024 ($ in thousands) Revenues and gains: Sales Gain on...

Answered: 1 week ago

Question

★★★★★

As CIO of BellyBig, a new chain of fast - food restaurants, you are responsible for setting up the information systems infrastructure. Brefly outline your vision for all the components of this...

Answered: 1 week ago

Question

★★★★★

Outdoor Equipment (OE) sells camping equipment. On December 1, the accounts receivable account had a balance of $50,000, the bad debt expense account had a balance of $0, and the allowance for...

Answered: 1 week ago

Question

★★★★★

Bonita Industries sells two types of computer hard drives. The sales mix is 30% (Q-Drive) and 70% (Q-Drive Plus). Q-Drive has variable costs per unit of $60 and a selling price of $120. Q-Drive Plus...

Answered: 1 week ago

Question

★★★★★

Explain five different cases of income exempt from tax with clear examples.

Answered: 1 week ago

Question

★★★★★

Barbara was divorced two years ago. However, the final property settlement and determination of alimony payments was not made until February 2018 because of extended litigation. Barbara received a...

Answered: 1 week ago

Question

★★★★★

In 2017, Micah Johnson (SSN 000-22-1111) is employed as a manager and incurs the following unreimbursed employee business expenses: Johnson receives a $7,800 reimbursement for the travel expenses. He...

Answered: 1 week ago

Question

★★★★★

In April 2018, Dan is audited by the IRS for the year 2016. During the course of the audit, the agent discovers that Dan's deductions for business travel and entertainment are unsubstantiated and a...

Answered: 1 week ago

Question

★★★★★

The National Highway Transportation Safety Administration runs crash tests in which stock automobiles are crashed into a wall at 35 mph with dummies in both the passenger and the driver's seats. The...

Answered: 1 week ago

Question

★★★★★

An experiment on mung beans was performed to investigate the environmental effects of salinity and water temperature on sprouting. Forty beans were randomly allocated to each of 36 petri dishes that...

Answered: 1 week ago

Question

★★★★★

A student performed an experiment with three different grips to see what effect it might have on the distance of a backhanded Frisbee throw. She tried it with her normal grip, with one finger out,...

Answered: 1 week ago

Previous Question Next Question