Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 01, 2024

On November 12, 2020, Ms. Wilma Vander purchased an automobile to be used exclusively in her newly formed unincorporated business that commenced operations on June

On November 12, 2020, Ms. Wilma Vander purchased an automobile to be used exclusively in her newly formed unincorporated business that commenced operations on June 30, 2020. The cost of the automobile was $75000, before GST and PST. It is a class 10.1 vehicle. In calculating her net business income for 2020, how much can Ms. Vander deduct with respect to this acquisition? Ignore GST and PST considerations. Her year end is December 31, 2020.

Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the amount Ms Wilma Vander can deduct for the automobile acquisition ... blur-text-image

Get Instant Access with AI-Powered 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

Elements Of Chemical Reaction Engineering

Authors: H. Fogler

6th Edition

9780135486221

Students also viewed these Finance questions

Question

10. Career Planning and Development Pursue realistic ideas about how to implement their psychological knowledge, skills, and values in occupational pursuits in a variety of settings that meet...

Answered: 1 week ago

Question

★★★★★

Suppose the market for rental cars has two segments, business travelers and vacation travelers. The demand curve for rental cars by business travelers is Qb = 35 0.25P, where Qb is the quantity...

Answered: 1 week ago

Question

★★★★★

Set Microsoft Edge as the defauit application for reading POF files? Additiond laformation and acjusunens 1. Invertory on 28 Febnary 2023 was valued at a seling price of REO0 000 . The inientey was...

Answered: 1 week ago

Question

★★★★★

Is the work here correct also need help with the last two blanks 9. Borrow $500.00 Jamul, Amir and Sue each want to purchase a game player that costs $500 and finance it with credit. Using the...

Answered: 1 week ago

Question

★★★★★

2. (10 points) The curve is the intersection of the plane x = -1 and the cone z = x + y. Find the curvature of y at the point (-1,2,5). 22

Answered: 1 week ago

Question

★★★★★

[6] Question 4: [20 Marks] The signal x(t) has the Laplace transform X(s) = 14 s(s+4) 2 [6] (a) Find the LT of y(t) = x(21-3) [8] (b) Find the LT of y(1) = tex(1) (c) Find the LT of y(t) = 1...

Answered: 1 week ago

Question

★★★★★

1.Goodyear implemented the DRII/NFPA 1600 approach. What strategies can be utilized to make sure recovery starts quickly, perhaps even while the incident is ongoing? 2.Please explain how the five...

Answered: 1 week ago

Question

★★★★★

8. A tire manufacturer has been concerned about the number of defective tires found recently. To evaluate the true magnitude of the problem, a production manager selected 10 random samples of 20...

Answered: 1 week ago

Question

★★★★★

Target Market(s) and Positioning OF OZTENT ( an Australian company) An analysis of the Oztent target market in particular shows differentiation from 20-29 years (18%), 30-54 years (47%), 55+ years...

Answered: 1 week ago

Previous Question Next Question