During the current year, Jobul Krist has the following costs:UtilitiesMaintenance And RepairsProperty TaxesHouse InsuranceInterest On MortgageRepainting And Rewiring The Work Space In The HomeHome Internet Service FeesHome Telephone:Monthly ChargeEmployment/Business Related Long Distance Charges$2,4004,6005,200A. He is an employee with $250,000 in income (no commissions).He is an employee with $250,000 in commission income.B.C. He is self-employed and earns $250,000 in business income.2,3007,8001,000960600390Mr. Krist is a workaholic with no family, friends, pets, or personal interests. He estimatesthat he uses 25 percent of his residence and 95 percent of his home phone and homeinternet service for employment/business related purposes. Maximum CCA on 100percent of the house would be $12,000. Determine the maximum deduction that wouldbe available to Mr. Krist assuming:

The annual deduction that is claimed on depreciable assets in the Canadian tax system under the…

During the current year, Jobul Krist has the following costs: Utilities Maintenance And Repairs Property Taxes House Insurance Interest On Mortgage Repainting And Rewiring The Work Space In The Home Home Internet Service Fees Home Telephone: Monthly Charge Employment/Business Related Long Distance Charges $2,400 4,600 5,200 2,300 7,800 1,000 960 A. He is an employee with $250,000 in income (no commissions). B. He is an employee with $250,000 in commission income. C. He is self-employed and earns $250,000 in business income. 600 390 Mr. Krist is a workaholic with no family, friends, pets, or personal interests. He estimates that he uses 25 percent of his residence and 95 percent of his home phone and home internet service for employment/business related purposes. Maximum CCA on 100 percent of the house would be $12,000. Determine the maximum deduction that would be available to Mr. Krist assuming:

During the current year, Jobul Krist has the following costs: Utilities Maintenance And Repairs Property Taxes House Insurance Interest On Mortgage Repainting And Rewiring The Work Space In The Home Home Internet Service Fees Home Telephone: Monthly Charge Employment/Business Related Long Distance Charges $2,400 4,600 5,200 2,300 7,800 1,000 960 A. He is an employee with $250,000 in income (no commissions). B. He is an employee with $250,000 in commission income. C. He is self-employed and earns $250,000 in business income. 600 390 Mr. Krist is a workaholic with no family, friends, pets, or personal interests. He estimates that he uses 25 percent of his residence and 95 percent of his home phone and home internet service for employment/business related purposes. Maximum CCA on 100 percent of the house would be $12,000. Determine the maximum deduction that would be available to Mr. Krist assuming:

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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