prob015 - Problem 15(Past exam question 14 minutes(Text Ch...

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Problem 15 (Past exam question: 14 minutes) (Text: Ch. 3) June is a salesperson who earned a total of $40,000 in the current year including $5,000 in commissions. She was required to travel in her job and was required to pay her own expenses which consisted of the following annual amounts (including PST and GST when applicable): (a) entertainment of clients (incurred in equal monthly amounts) including golf membership dues of $600 $3,700 (b) home office expenses (including an allocated portion — based on square footage of the home office — of mortgage interest of $700 and municipal taxes of $250) 3,500 (c) car operating expenses 4,900 (d) interest paid on bank loan to purchase car (12 months of payments) 1,500 (e) convention dues (excluding meals and entertainment) 700 (f) meals expense (incurred in equal monthly amounts) while travelling (away from the
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