KYou are provided with the following amounts for Diane Welsey for the current year:View the amounts.Based on the amounts, what is the net income reported by Diane Welsey pursuant to ITA 3 for the current year?A. $49,660OB. $65,460OC. $57,560OD. $51,560Ask my instructorAmountsNet employment income (ITA 5 to 8)Interest income (ITA 12)Taxable amount of dividendsTaxable capital gains (ITA 38 to 55)Allowable capital losses (ITA 38 to 55)RRSP deduction (allowed pursuant to ITA 60)$ 54,0008,7001,4606,0007,90012,600$I

According to the question given, we need to compute the net income for the current year.Taxable…

A. $49,660 OB. $65,460 OC. $57,560 O D. $51,560 Amounts Net employment income (ITA 5 to 8) Interest income (ITA 12) Taxable amount of dividends Taxable capital gains (ITA 38 to 55) Allowable capital losses (ITA 38 to 55) RRSP deduction (allowed pursuant to ITA 60) $ $ S S year? 54,000 8,700 1,460 6,000 7,900 12,600

A. $49,660 OB. $65,460 OC. $57,560 O D. $51,560 Amounts Net employment income (ITA 5 to 8) Interest income (ITA 12) Taxable amount of dividends Taxable capital gains (ITA 38 to 55) Allowable capital losses (ITA 38 to 55) RRSP deduction (allowed pursuant to ITA 60) $ $ S S year? 54,000 8,700 1,460 6,000 7,900 12,600

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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