Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please explain how this question was solved Minju is employed as a salesperson and earns both a salary and commission income. In 2021, Minju's commissions
please explain how this question was solved
Minju is employed as a salesperson and earns both a salary and commission income. In 2021, Minju's commissions totaled $5,500. Minju is required to pay for numerous employment expenses each year which are identified on the annual T2200. Minju paid $6,200 for advertising and promotion during the year. Minju uses a personal vehicle for work purposes, and in 2021, the total capital cost allowance for the car was $12,000, and $320 of interest was paid per month on a loan for the car. Minju drove the car a total of 20,000 kilometres in 2021. 8,000 of these were for work purposes. How much is Minju's total salesperson deduction for 2021? Multiple Choice $21,100 $11,760 $22,040 $11,857 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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