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answer the particular questions based on the information provided plz i need the answers as soon as possible Ms. Smith has been working for her

answer the particular questions based on the information provided plz i need the answers as soon as possible image text in transcribed
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Ms. Smith has been working for her employer for over a decade. The table below summarizes the information from her T4 slip. Business Income In addition to working a standard 9 a.m. 5 p.m. job, Ms. Smith had an innovative idea and a couple of years ago she started her own business. The details you will need to complete her T1 Return are below: - The unincorporated business earns $6,000 per month. - Ms. Smith operates an unincorporated business out of her personal residence and the entire basement is dedicated to the business on nights and weekends. The house has three levels, including the basement. No other part of the house is used to earn income. Ms. Smith regularly meets clients there to discuss future sales. - To furnish the home office, Ms. Smith spent $5,000 on office furniture on January 1 , 2018. Ms. Smith was getting tired of the dated bathroom on the top floor of the house and decided to renovate it for a cost of $25,000. - The monthly heating and utility bills are $120 and $150, respectively. - Ms. Smith pays her mortgage twice a month (24 times a year) and the payments are $750. The outstanding mortgage balance on January 1, 2018 was $233,000 and on December 31, 2018 it was $219,500. - The property tax bills were paid on time, directly to the city and the cost was $4,000 (the property tax amounts were not rolled into the mortgage). - On January 1, 2018, she purchased a brand-new computer for $1,500 and bought new software (not the operating system software) at the same time for $1,000. - Ms. Smith pays $45 per month for online local advertising. - In order to drum up business, Ms. Smith purchased seasons tickets for both the Senators and the Redblacks. - The cost for the Senators tickets (2) for $1,500 each. Ms. Smith will take a client to every hockey game; she has not missed a game in over five years. The cost for the Redblacks tickets (4) for $350 each. The same goes for the Redblacks, she hasn't missed a game either and it's a family tradition for her, her spouse and their two nieces to attend the games together. - Due to environmental reasons, Ms. Smith does not own a car, so she rides her bike whenever she needs to meet a client or a supplier. - During the 2018 taxation year, Ms. Smith purchased $32,000 worth of items for resale in her business. - Her brother is always helping out with the business; however, he has never received any kind of renumeration for the assistance he has provided. - Ms. Smith has a business bank account and the monthly banking fees associated with this account are $5 a month. - In March of 2018, one of Ms. Smith's best customers went bankrupt and was unable to pay for the purchased she made and received in December 2017 (accrual method of accounting is being used by Ms. Smith). In 2017, the customer purchased $3,500 in goods. - Ms. Smith pays $75 a month for a storage locker that she has had for over 3 years. Everything in the storage locker was bequeathed to her from her great uncle. She has no use for the items, but she can't seem to let them go. - A couple of years ago, Ms. Smith received an inheritance and she decided to use that money to purchase two condominium units in the same development. Both units are finalized on January 2, 2018 and they were both rented out for the entirety of the 2018 taxation year. - Condo 1 had a purchase price of $250,000 and is rented out for $825 a month. The monthly condo fees are $60, and Ms. Smith paid in total $4,200 in mortgage interest. The property taxes were $2,500, and the insurance for the unit was $400. The tenant that rented out this property all year told Ms. Smith that she hated the colour of the carpet in the bedrooms. In order to keep the tenant happy. Ms. Smith paid to get the carpet replaced for $1,350. - Condo 2 had a purchase price of $550,000 and is rented out for $2,250 a month. The monthly condo fees are $140, and Ms. Smith paid in total $17,800 in mortgage interest. The property taxes are $5,500, and the insurance for the unit was $800. This is the bigger of the two units and Ms. Smith decided that she would buy a freezer for $1,000 for the tenants as the freezer that came with the fridge was too small for a family of four. - In 2017, Ms. Smith received a hot stock tip from a friend regarding a brand-new industry and she decided to buy 10,000 shares at $2.50 each. The investment did not turn out so well and on December 30th,2018,Ms. Smith decided to sell all the shares at $0.75. She was devasted when she had to sell them, but she was scared that the share price would have dropped even lower. In 2018, Ms. Smith received another hot stock tip from an article she read online. On March 1t,2018, she bought 500 shares at $35 each. Due to the financial instability she decided to also sell all of these shares on December 30,2018 for $38.50 each. Ms. Smith has sworn off self-directed investments due to the stress they both caused her over the past 18 months. Particulars 1 Amount of Sales to be reported in T2125 2 Should Advertising expense be claimed? If yes, How Much 3 Should meals and entertainment expense be claimed? If Yes, how much 4 Should Senators tickets be expensed? Yes or No 5 Should Redblacks tickets be expensed? Yes or No 6 Should storgae locker fee be claimed? If yes, how much 7 Should Office Furniture be added as capital asset? If yes, what would be the asset (CCA) class and amount 8 Should Computer be added as capital asset? If yes, what would be the asset (CCA) class and amount 9 Should Software be added as capital asset?lf yes, what would be the asset (CCA) class and amount 10 Should Bathroom renovations be conisdered ? If yes, how much amount 11 Should purchases be considered in T2125? If yes, how much 12 Should banking fees be considered in T2125? If yes, how much 13 Should bad debt expense be considered in T2125? If yes, how much 14 Should heating expense be considered? If yes, how much 15 Should mortgage interest be considered? If yes, how much 16 Should Property Tax be considered? If yes, how much 17 How much should be the gross rental income reported and in which form? 18 Should insurance expense be claimed on rental property? If yes, how much? 19 Should interest expense be claimed on rental property? If yes, how much? 20 Should management and admin fees be claimed on rental property? If yes, how much? 21 Should maintenance and repair expense be claimed on rental property? If yes, how much? 22 Should property tax expense be claimed on rental property? If yes, how much? 23 Should Unit 1 be treated as capital asset? If yes, what would be asset (CCA) class and amount? 24 Should Unit 2 be treated as capital asset? If yes, what would be the asset (CCA) class and amount? 25 Should freezer be treated as capital asset? If yes, what would be the asset (CCA) class and amount? 26 How much would be the gain/loss on first set of share and where should it be reported? Enter loss as negative number 27 How much would be the gain/loss on second set of share and where should it be reported? Enter loss as negative number Ms. Smith has been working for her employer for over a decade. The table below summarizes the information from her T4 slip. Business Income In addition to working a standard 9 a.m. 5 p.m. job, Ms. Smith had an innovative idea and a couple of years ago she started her own business. The details you will need to complete her T1 Return are below: - The unincorporated business earns $6,000 per month. - Ms. Smith operates an unincorporated business out of her personal residence and the entire basement is dedicated to the business on nights and weekends. The house has three levels, including the basement. No other part of the house is used to earn income. Ms. Smith regularly meets clients there to discuss future sales. - To furnish the home office, Ms. Smith spent $5,000 on office furniture on January 1 , 2018. Ms. Smith was getting tired of the dated bathroom on the top floor of the house and decided to renovate it for a cost of $25,000. - The monthly heating and utility bills are $120 and $150, respectively. - Ms. Smith pays her mortgage twice a month (24 times a year) and the payments are $750. The outstanding mortgage balance on January 1, 2018 was $233,000 and on December 31, 2018 it was $219,500. - The property tax bills were paid on time, directly to the city and the cost was $4,000 (the property tax amounts were not rolled into the mortgage). - On January 1, 2018, she purchased a brand-new computer for $1,500 and bought new software (not the operating system software) at the same time for $1,000. - Ms. Smith pays $45 per month for online local advertising. - In order to drum up business, Ms. Smith purchased seasons tickets for both the Senators and the Redblacks. - The cost for the Senators tickets (2) for $1,500 each. Ms. Smith will take a client to every hockey game; she has not missed a game in over five years. The cost for the Redblacks tickets (4) for $350 each. The same goes for the Redblacks, she hasn't missed a game either and it's a family tradition for her, her spouse and their two nieces to attend the games together. - Due to environmental reasons, Ms. Smith does not own a car, so she rides her bike whenever she needs to meet a client or a supplier. - During the 2018 taxation year, Ms. Smith purchased $32,000 worth of items for resale in her business. - Her brother is always helping out with the business; however, he has never received any kind of renumeration for the assistance he has provided. - Ms. Smith has a business bank account and the monthly banking fees associated with this account are $5 a month. - In March of 2018, one of Ms. Smith's best customers went bankrupt and was unable to pay for the purchased she made and received in December 2017 (accrual method of accounting is being used by Ms. Smith). In 2017, the customer purchased $3,500 in goods. - Ms. Smith pays $75 a month for a storage locker that she has had for over 3 years. Everything in the storage locker was bequeathed to her from her great uncle. She has no use for the items, but she can't seem to let them go. - A couple of years ago, Ms. Smith received an inheritance and she decided to use that money to purchase two condominium units in the same development. Both units are finalized on January 2, 2018 and they were both rented out for the entirety of the 2018 taxation year. - Condo 1 had a purchase price of $250,000 and is rented out for $825 a month. The monthly condo fees are $60, and Ms. Smith paid in total $4,200 in mortgage interest. The property taxes were $2,500, and the insurance for the unit was $400. The tenant that rented out this property all year told Ms. Smith that she hated the colour of the carpet in the bedrooms. In order to keep the tenant happy. Ms. Smith paid to get the carpet replaced for $1,350. - Condo 2 had a purchase price of $550,000 and is rented out for $2,250 a month. The monthly condo fees are $140, and Ms. Smith paid in total $17,800 in mortgage interest. The property taxes are $5,500, and the insurance for the unit was $800. This is the bigger of the two units and Ms. Smith decided that she would buy a freezer for $1,000 for the tenants as the freezer that came with the fridge was too small for a family of four. - In 2017, Ms. Smith received a hot stock tip from a friend regarding a brand-new industry and she decided to buy 10,000 shares at $2.50 each. The investment did not turn out so well and on December 30th,2018,Ms. Smith decided to sell all the shares at $0.75. She was devasted when she had to sell them, but she was scared that the share price would have dropped even lower. In 2018, Ms. Smith received another hot stock tip from an article she read online. On March 1t,2018, she bought 500 shares at $35 each. Due to the financial instability she decided to also sell all of these shares on December 30,2018 for $38.50 each. Ms. Smith has sworn off self-directed investments due to the stress they both caused her over the past 18 months. Particulars 1 Amount of Sales to be reported in T2125 2 Should Advertising expense be claimed? If yes, How Much 3 Should meals and entertainment expense be claimed? If Yes, how much 4 Should Senators tickets be expensed? Yes or No 5 Should Redblacks tickets be expensed? Yes or No 6 Should storgae locker fee be claimed? If yes, how much 7 Should Office Furniture be added as capital asset? If yes, what would be the asset (CCA) class and amount 8 Should Computer be added as capital asset? If yes, what would be the asset (CCA) class and amount 9 Should Software be added as capital asset?lf yes, what would be the asset (CCA) class and amount 10 Should Bathroom renovations be conisdered ? If yes, how much amount 11 Should purchases be considered in T2125? If yes, how much 12 Should banking fees be considered in T2125? If yes, how much 13 Should bad debt expense be considered in T2125? If yes, how much 14 Should heating expense be considered? If yes, how much 15 Should mortgage interest be considered? If yes, how much 16 Should Property Tax be considered? If yes, how much 17 How much should be the gross rental income reported and in which form? 18 Should insurance expense be claimed on rental property? If yes, how much? 19 Should interest expense be claimed on rental property? If yes, how much? 20 Should management and admin fees be claimed on rental property? If yes, how much? 21 Should maintenance and repair expense be claimed on rental property? If yes, how much? 22 Should property tax expense be claimed on rental property? If yes, how much? 23 Should Unit 1 be treated as capital asset? If yes, what would be asset (CCA) class and amount? 24 Should Unit 2 be treated as capital asset? If yes, what would be the asset (CCA) class and amount? 25 Should freezer be treated as capital asset? If yes, what would be the asset (CCA) class and amount? 26 How much would be the gain/loss on first set of share and where should it be reported? Enter loss as negative number 27 How much would be the gain/loss on second set of share and where should it be reported? Enter loss as negative number

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