What earned income for rrsp purpose for the year

Assignment Help Accounting Basics
Reference no: EM132737548

Problem 1: During 2019, Mr.Orlando had net employment income of $35,000, received spousal support payments of $8,000 as well as child support payments for his 10 year old daughter of $12,000, received an inheritance of $50,000 and had a net rental loss of $2,000. His Earned Income for RRSP purpose for the year 2019 would be:

A. $103,000
B. $41,000
C. $35,000
D. $43,000
E. None of the above.
F. $53,000
G. $33,000

Reference no: EM132737548

Questions Cloud

What would be recorded as a gain on the transfer : Sheffield estimates the fair value of the recourse liability at $203000. What would be recorded as a gain (loss) on the transfer of receivables
Make a statement of comprehensive income in two separate : Make a statement of comprehensive income in two separate statements. Ignore taxes and earnings per share (EPS). Oriole Ltd. follows IFRS.
Which of the statements is correct with respect to the tax : Which of the statements is correct with respect to the tax consequences that would arise in connection with the proposed sale? of the building
Compute the current ratio based on Walker balance sheet : Freight-in of $3,190 was debited to advertising expense on December 28, 2019. Compute the current ratio based on Walker balance sheet
What earned income for rrsp purpose for the year : $12,000, received an inheritance of $50,000 and had a net rental loss of $2,000. His Earned Income for RRSP purpose for the year 2019 would be
Calculate the annualised holding period return : Investment B expects to pay half yearly dividends of $4.20 and is currently trading at $22.30 per share. Calculate the annualised holding period return
Discuss the role of databases and database management system : Discuss the role of databases and database management systems in the context of enterprise systems. Also, include a discussion on the components
What is the impact of the financial measures : What is the impact of the financial measures that the company will take in light of the Covid-19 pandemic on preparing financial statements
Make the entries for the declaration and issuance : Sunland Corporation has 53,000 shares of $13 par value common stock outstanding. Make the entries for the declaration and issuance of the stock dividend

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the net cash flow provided by operations

Calculate the net cash flow provided by operations for Simon Co. for the year ended December 31, 2014

  The vest company issued 500000 5 year 8 bonds the market

the vest company issued 500000 5 year 8 bonds. the market rate at the time of the sale was greater than 8 so the bonds

  Calculate earnings koala inc per share

Calculate earnings per share for 2020 as it should be reported to shareholders.How would Koala's EPS reporting requirements differ if the company were a private

  We offer a focused menu of high-quality value priced pizza

we offer a focused menu of high-quality value priced pizza with three types of crust hand-tossed thin crust and deep

  Record these events in the general journal of OZ Ltd

Record these events in the general journal of OZ Ltd in accordance with the requirement of AASB 2 'Share-based Payment'

  Clyde had work for many years as the chief executive of red

clyde had work for many years as the chief executive of red industries and had also been a major shareholder. clyde and

  Write the management assertions

General Audit Procedures and Financial Statement Assertions. The eight general audit procedures produce evidence about the principal management assertions.

  Define multiple ways to record the impairment

When is a debt security considered impaired? Explain how to account for the impairment of an available-for-sale debt security.

  What is possible cause of action available to the auditor

Review problem C. 16-9: Balancing the Budget the Easy Way: The Government and Not-for-Profit Accounting: Concepts and Practices

  On january 20 2014 steffi graf inc sold security a for

at december 31 2013 the available-for-sale equity portfolio for steffi graf inc. is as follows.securitycostfair

  Options exercisable at 20 each to obtain 30000 shares of

options exercisable at 20 each to obtain 30000 shares of common stock were outstanding during a period when the average

  What amount of total assets appear in balance sheet

Based on the preceding information, what amount of total assets will appear in the consolidated balance sheet prepared immediately

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd