2. Joanne is a bookkeeper. She helps people complete their tax returns. a) Joanne wrote this...

Transcribed Image Text:

2. Joanne is a bookkeeper. She helps people complete their tax returns. a) Joanne wrote this tax summary for one of her clients. Fill in the missing amounts in the chart. Total income Total deductions (including business expenses) Net income (total income - total deductions) Total tax payable Total tax already paid by installments at $1100/mo for 12 mo Refund or balance owing (tax payable tax paid) $62.950.00 $18560.00 $12340.00 b) Will Joanne's client get a refund, or does her client owe more tax? How much is the refund or the amount owed? 3. Quentin took a business trip to Calgary to meet clients. His expenses are listed below. Underline the business expenses. airfare souvenir T-shirts taxi from hotel to office lunch after meeting movie ticket hotel room long-distance call to home office gym drop-in fee 2. Joanne is a bookkeeper. She helps people complete their tax returns. a) Joanne wrote this tax summary for one of her clients. Fill in the missing amounts in the chart. Total income Total deductions (including business expenses) Net income (total income - total deductions) Total tax payable Total tax already paid by installments at $1100/mo for 12 mo Refund or balance owing (tax payable tax paid) $62.950.00 $18560.00 $12340.00 b) Will Joanne's client get a refund, or does her client owe more tax? How much is the refund or the amount owed? 3. Quentin took a business trip to Calgary to meet clients. His expenses are listed below. Underline the business expenses. airfare souvenir T-shirts taxi from hotel to office lunch after meeting movie ticket hotel room long-distance call to home office gym drop-in fee

Answer rating: 100% (QA)

Answer a Total income 6295000 Total deductions incl... View the full answer