Due on or before October 2, 2022 @11:55PM Homework One 1. Jack is an employee of ABC, a Canadian-controlled private corporation (CCPC). The following was provided to you by Jack regarding all his financial and non-financial transactions during 2022. He received the following during 2022: + Gross salary Payroll deductions: $60,000 Income taxes $12,000 CPP premium 2,307 El premium 840 RPP-employee contributions 4,200 Union Dues 375 Group accident disability insurance 200 Use of employer car 1,900 (21,822) Net pay $38,178 2. Director's fees of $2,400 received from being on the board of XYZ, a public corporation controlled by ABC (100% of XYZ voting shares owned by ABC). 3. For his good performance, he was awarded a $20,000 bonus of a total bonus he received $12,000 on Dec 25, 2022, and the remainder is to be paid next year. 4. A birthday gift of a new iPhone was given to Jack for his personal use. ABC corporate policy was to deduct such gifts; the cost of the phone was $700, not including 5% GST 5. Jack and his spouse rented the company's condo in Colorado for two weeks during the winter ski season. They had to pay ABC $500 per week for accommodations that would otherwise have cost them $1,400 for the entire stay. Jack was not involved in any business activities during this trip. 6. Jack's spouse accompanied him on a business trip to Cuba, paid for by his employer. The main purpose of the trip was for Jack to work with a customer. His spouse performed no business function during the trip. They did not extend their trip to include a vacation. Jack's expenditures of $5,000 were paid by ABC and were reasonable in relation to the business function. The portion of the travelling expenses related to Jack's spouse was also paid by ABC and amounted to $1,000.