Meryam Ahmed has net tax owing for 2016 of $5,000, net tax owing for 2017 of$8,000 and estimated net tax owing for 2018 of $6,500. If she wishes to pay usingthe Canada Revenue Agency's instalment payment calculation, what would be herpayment be on September 15, 2018?a) $1250Ob) $1625c) $2000d) $2750

Sometime it happens that taxes are due for long period than on the request tax authorities gives…

Meryam Ahmed has net tax owing for 2016 of $5,000, n $8,000 and estimated net tax owing for 2018 of $6,500. the Canada Revenue Agency's instalment payment calcul payment be on September 15, 2018? O a) $1250 Ob) $1625

Meryam Ahmed has net tax owing for 2016 of $5,000, n $8,000 and estimated net tax owing for 2018 of $6,500. the Canada Revenue Agency's instalment payment calcul payment be on September 15, 2018? O a) $1250 Ob) $1625

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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Concept explainers

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.

Question

Meryam Ahmed has net tax owing for 2016 of $5,000, net tax owing for 2017 of
$8,000 and estimated net tax owing for 2018 of $6,500. If she wishes to pay using
the Canada Revenue Agency's instalment payment calculation, what would be her
payment be on September 15, 2018?
a) $1250
Ob) $1625
c) $2000
d) $2750

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