Question
Claire Rozon works for Lebrun Ind. in Montral, PQ. She has a companyleased automobile for her use during the year. Given the following information, calculate
1) Monthly cost of the automobile $400.00
2) GST on monthly cost of automobile
3) QST on monthly cost of automobile
4) Days available (Jan 1 - Dec. 31, of the current year) 365
5) Total kilometers driven 50,000
6) Personal kilometers driven 22,000
7) Employee reimbursement $0.00
Step by Step Solution
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Step: 1
Calculation of Claires Annual Taxable Benefit Step 1 Calculate the annual operating cost of the automobile Annual cost Monthly cost x 12 400 x 12 4800 ...Get Instant Access to Expert-Tailored Solutions
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Step: 3
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
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