Simone Massy works for Canada Couriers in Nunavut and is provVided with a company-leased automobile. The automobile was in Simone's possession for 365 days. Of the 34,134 kilometres driven, 15,805 kilometres were for business purposes. The monthly lease cost of the vehicle was $198 60, excluding the GST calculated at 5%. Simone requested in writing that Canada Couriers use the optional operating cost method if all the conditions apply She did not reimburse the company for any of the expenses associated with the automobile. Calculate Simone's annual automobile taxable benefit. Smoee Masy wrks for Canda Core hinaAndapretha conanenetautonebile The automobile was in Simoners possession for Says oruhe 34134oetes driven Watorbr pe Te monthiy lease cost of the vehice was $18.60etuding the EST calutate yohexpense acatedwith the e
Simone Massy works for Canada Couriers in Nunavut and is provVided with a company-leased automobile. The automobile was in Simone's possession for 365 days. Of the 34,134 kilometres driven, 15,805 kilometres were for business purposes. The monthly lease cost of the vehicle was $198 60, excluding the GST calculated at 5%. Simone requested in writing that Canada Couriers use the optional operating cost method if all the conditions apply She did not reimburse the company for any of the expenses associated with the automobile. Calculate Simone's annual automobile taxable benefit. Smoee Masy wrks for Canda Core hinaAndapretha conanenetautonebile The automobile was in Simoners possession for Says oruhe 34134oetes driven Watorbr pe Te monthiy lease cost of the vehice was $18.60etuding the EST calutate yohexpense acatedwith the e
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Simone Massy works for Canada Couriers in Nunavut and is provided with a company leased
automobile. The automobile was in Simone's possession for
365 days. Of the 34,134 kilometres driven, 15,805 kilometres were for business purposes. The
monthly lease cost of the vehicle was $198 60 excluding the
GST calculated at 5%
Simone requested in writing that Canada Couriers use the optional operating cost method if all the
conditions apply She did not reimburse the company
for any of the expenses associated with the automobile.
Calculate Simone's annual automobile taxable benefit,
hee Massywertsfor Canada Couner Nawtandereietano eeatoncbile Thie atomobile was in Simone's possession for
S aas Ofthe 34134omtres drivtn 19 wetrbestn thEnonthy lease cosE of the vehide was S18.60 tuding the
ESTcaculated
etepenacasted with the aur
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