Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Qustion 1 What is the income after 3b )? begin{tabular}{|l|l|} hline Business revenue & 16,400 hline Business expenses & 21,470 hline Rental revenue

image text in transcribed

Qustion 1 What is the income after 3b )? \begin{tabular}{|l|l|} \hline Business revenue & 16,400 \\ \hline Business expenses & 21,470 \\ \hline Rental revenue & 1,740 \\ \hline Rental expenses, excl. CCA & 2,430 \\ \hline Taxable portion of dividends received & 2,000 \\ \hline Employment wages & 39,500 \\ \hline Employment taxable benefits & 2,100 \\ \hline Employment allowable deductions & 7,210 \\ \hline Spousal support payments paid out & 8,800 \\ \hline Interest income received & 3,000 \\ \hline Allowed RRSP deduction & 6,400 \\ \hline Allowable moving expenses & 1,890 \\ \hline Purchase price of RIM stock & 5,300 \\ \hline Proceeds from sale of RIM stock this year & 7,000 \\ \hline Purchase price of bond & 6,400 \\ \hline Proceeds from sale of bond this year & 7,100 \\ \hline \end{tabular} Qustion 1 What is the income after 3b )? \begin{tabular}{|l|l|} \hline Business revenue & 16,400 \\ \hline Business expenses & 21,470 \\ \hline Rental revenue & 1,740 \\ \hline Rental expenses, excl. CCA & 2,430 \\ \hline Taxable portion of dividends received & 2,000 \\ \hline Employment wages & 39,500 \\ \hline Employment taxable benefits & 2,100 \\ \hline Employment allowable deductions & 7,210 \\ \hline Spousal support payments paid out & 8,800 \\ \hline Interest income received & 3,000 \\ \hline Allowed RRSP deduction & 6,400 \\ \hline Allowable moving expenses & 1,890 \\ \hline Purchase price of RIM stock & 5,300 \\ \hline Proceeds from sale of RIM stock this year & 7,000 \\ \hline Purchase price of bond & 6,400 \\ \hline Proceeds from sale of bond this year & 7,100 \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_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

Treasury Financial Manual Volume II III And IV

Authors: US Treasury

1st Edition

1790321824, 978-1790321827

More Books

Students also viewed these Accounting questions