On January 1, 2020 Ben borrowed $10,000 by signing a 1-year note payable at 6% interest...

 

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On January 1, 2020 Ben borrowed $10,000 by signing a 1-year note payable at 6% interest and used the money to purchase 2.000 common shares of Import Ltd., a Canadian public corporation for $4.00 per share. During the year Import Ltd. paid eligible dividends of $3.35 per share. The used the remaining funds to purchase 1,500 common shares of Export Inc. a private corporation for $1.33 per share. Export paid ineligible dividends of $1 per share in the year. Ben also acquired a residential rental property this year at a total cost of $393.000, Rental income for the year totalled $21.000. while rental expenses other than CCA are as follows: Mortgage Payments ($11,500 is mortgage interest) $19.000 Insurance 2.100 Property tax 4,500 Advertising 35 Repairs and Maintenance 1,000 Required: Determine Ben's net property income for the year ending December 31, 2020 Please click on the arrow to open up your additional functions and insert a table with at least 20 rows and 10 columns On January 1, 2020 Ben borrowed $10,000 by signing a 1-year note payable at 6% interest and used the money to purchase 2.000 common shares of Import Ltd., a Canadian public corporation for $4.00 per share. During the year Import Ltd. paid eligible dividends of $3.35 per share. The used the remaining funds to purchase 1,500 common shares of Export Inc. a private corporation for $1.33 per share. Export paid ineligible dividends of $1 per share in the year. Ben also acquired a residential rental property this year at a total cost of $393.000, Rental income for the year totalled $21.000. while rental expenses other than CCA are as follows: Mortgage Payments ($11,500 is mortgage interest) $19.000 Insurance 2.100 Property tax 4,500 Advertising 35 Repairs and Maintenance 1,000 Required: Determine Ben's net property income for the year ending December 31, 2020 Please click on the arrow to open up your additional functions and insert a table with at least 20 rows and 10 columns

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