Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 23, 2024

Prince Packaging, in Ontario, Lease automobiles for their senior management team. Diana Wilson joined the company July1 of the current year and was assigned a

Prince Packaging, in Ontario, Lease automobiles for their senior management team. Diana Wilson joined the company July1 of the current year

and was assigned a car for her exclusive use for the balance of the year (184 days). At the end of year, Diana submitted her automobile usage as follows:

Business Kilometers driven 35,000

Personal Kilometers driven +9,000

Total kilometers driven 44,000

Prince Packaging paid monthly auto lease of $350, plus $45.50 HST for Diana's car.

Please calculate related auto benefits for Diana (please show me the break-down steps of calculation).

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

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Weygandt Kimmel Kieso

10th Edition

0470646462, 978-0470646465

Students also viewed these Accounting questions

Question

★★★★★

An air-hockey puck has a model rocket rigidly attached to it. The puck is pushed from one corner along the long side of the 2.00-m-long air-hockey table, with the rocket pointing along the short side...

Answered: 1 week ago

Question

★★★★★

Explain the difference between return on assets (ROA) and return on common equity (ROCE).

Answered: 1 week ago

Question

★★★★★

Using the Body Fat data set with weight as the response variable and chest circumference as the explanatory variable (a) fit a simple linear regression model relating weight to chest circumference....

Answered: 1 week ago

Question

★★★★★

The following is partial information for Charleston Companys most recent year of operation. It manufactures lawn mowers and categorizes its operations into two divisions: Bermuda and Midiron....

Answered: 1 week ago

Question

★★★★★

Analyzing Income under Absorption and Variable Costing Variable manufacturing costs are $74 per unit, and fixed manufacturing costs are $79,200. Sales are estimated to be 3,500 units If an amount is...

Answered: 1 week ago

Question

★★★★★

Select two of the case studies located in the course textbook at the end of Chapters 21, 24, 25, or 27, and answer the questions associated with those case studies Chapter 21: Recommend where would...

Answered: 1 week ago

Question

★★★★★

In regards to productivity through the use of determining the number of units produced during each work hour by employees. How does this produce an accurate representation of each individual employee...

Answered: 1 week ago

Question

★★★★★

Q2 A large all-equity pension fund company with AUM of $500Billion that is closely following S&P 500 index is facing a possibility of new regulatory changes in its management of market risk. The new...

Answered: 1 week ago

Question

★★★★★

Locate a competitor for Mars. a. Identify ERM processes used by the organization that are the same or different from those used by Mars. b. Select two ERM processes used by the competitor that you...

Answered: 1 week ago

Question

★★★★★

Client Feedback Report The couple has decided to proceed with the Buffet menu for their Wedding Reception. They do require some additional information and advice on several areas. As the Catering...

Answered: 1 week ago

Question

★★★★★

Watch the Netflix documentary "Fugitive: The Curious Case of Carlos Ghosn" and analyze it through the lenses of Hoefstede's dimensions. Also, use your knowledge about Bennett, Deardorf, and...

Answered: 1 week ago

Question

★★★★★

National and international fit of the working model: Given what you learned about Switzerland, how well does Choice with Responsibility fit Novartis employees in Switzerland? What could be cultural...

Answered: 1 week ago

Question

★★★★★

Understand how the particularities of the German business system shape particular solutions for talent development in the context of interorganizational networks.

Answered: 1 week ago

Question

★★★★★

Benefits and downsides of the culture change: In your opinion, why did Novartis start to change its corporate culture? (i) What are the intended goals and benefits of Choice with Responsibility? (ii)...

Answered: 1 week ago

Previous Question Next Question