6) During 2019, you have employment income of $40,000, a net rental loss of $16,000, interest income of $6,000, and income from royalties of $7,000. The royalties were on a book you wrote. You do not have Unused RRSP Deduction Room from previous years. You are not a member of a Registered Pension Plan during 2019. You contributed $2,000 to your spouse's Registered Retirement Savings Plan in 2020. The maximum deductible 2020 Registered Retirement Savings Plan contribution to your RRSP is: A) $3,580. B) $5,580. C) $4,660. D) $6,660.

6) During 2019, you have employment income of $40,000, a net rental loss of $16,000, interest income of $6,000, and income from royalties of $7,000. The royalties were on a book you wrote. You do not have Unused RRSP Deduction Room from previous years. You are not a member of a Registered Pension Plan during 2019. You contributed $2,000 to your spouse's Registered Retirement Savings Plan in 2020. The maximum deductible 2020 Registered Retirement Savings Plan contribution to your RRSP is: A) $3,580. B) $5,580. C) $4,660. D) $6,660.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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