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James Bond works for IBM as a computer consultant. He travels from plant to plant checking the computer systems for IBM to keep them in

James Bond works for IBM as a computer consultant. He travels from plant to plant checking the computer systems for IBM to keep them in order. James has provided you with the following information related to his various investment holdings and his employment income as of December 31,2023.
Salary-gross................................................... $102,690
Less: Income taxes.......................................... $34,000
Less: Canada Pension Plan contributions............... $3,754
Less: Employment Insurance contributions............ 1,002
Subtotal $63,954
$500,000 GIC purchased November 1,2022(interest payable at maturity on October 31,2025)
Accrued interest from November 1,2022 October 31,202322,000
Accrued interest from January 1,2023 December 31,202322,428
Interest earned on his investment account (not joint) with his investment broker =2,600
Interest earned on 2022 personal income tax assessment =900
Interest on short-term investments:
$40,000 term deposit taken out November 30,2023(interest at maturity in six months)
Accrued interest from December 1 December 31,2023=270
Interest earned on joint bank account with his spouse (spouse contributes equally =4,000
Government of Canada Treasury Bills purchased for $14,009 on January 3,2023
Amount received on maturity on December 31,2023=18,000
Cash dividends received from investment in common shares of Canadian Controlled privat corporations =36,000
Cash dividends received from common shares in US corporations (net of $4,000 of foreign withholding taxes; all in $CDN)=25,000
Rental details from operation of two separate rental properties:
Property 1 Property 2 Property 3
Gross rental revenue $ 62,000 $ 52,000 $25,000
Utilities 9,0008,000 $10,000
Property taxes 5,8003,500 $8,000
Repairs 4,5009,800 $4,000
Mortgage interest 24,00043,00012,000
Opening UCC (Class 1) Jan 1,2023 $388,560 $565,864 see note 6A
6. Purchases made during 2023 were as follows:
a) A new office building was purchased for $1,290,000. The cost of the land was $370,000 and the balance was allocated to the building. The owner rented the building so the closing date (date the owner took ownership) of September 1st,2023coordinated with the new business tenants who occupied the building. The details of the operations are listed above under Property 3. Property 1 was sold during 2023. The closing date of the sale was December 31,2023. The selling price was $700,000 and the original cost of Property 1 was $530,000.
b) The company had James Bond sign a contract that he uses his own car for business
purposes for the company and he is required to pay directly all of the automobile
expenses. A passenger vehicle was purchased on May 1,2023, by James Bond which
the company he worked for signed a T2200. The car was purchased on May 1,2023, at a cost of $30,000 before HST (13%) and he drove it 19,000 KM for business. His full mileage for 2023 was 24,000 KM.
The costs of the car, from May 1st to December 31st,2023, are as follows:
Gas, oil, and maintenance $9,000
Loan interest on the car 2,600
License and insurance 4,000
Interest expenses paid during 2023:
Interest on bank line of credit used for investing in shares described above = $51,000
Interest on loan to acquire a car for his daughter for her 18th birthday = $9,500
Interest on a parcel of vacant land (purchased in 2023, the land does not generate any income)=28,000
Based on above, James Bond has asked you to calculate his income for the year. He would also like you to comment on the income tax implications of items not included in your calculations.

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