Andy worked for High Speed Bikes Inc. from March 1st - December 31st during 20X1. He earned a monthly salary of $4,000 plus 1% commission on all of his
sales. During 20X1, Andy's sales totaled $800,000. Andy was required to pay for his employment expenses. He traveled out of his city most days in order to sell
to customers in surrounding towns. He received an allowance of $500 per month to cover his traveling costs. Andy and his employer each contributed $2,000 to
the company's registered pension plan.
Andy provided you with the following receipts for 20X1:
Andy purchased a new vehicle for work during the year, and drove it a total of 25,000 kms while employed at High Speed Bikes. 12,000 of these kilometres were for business. The vehicle cost Andy $32,000 plus GST of 5% and PST of 5%. Work-related interest payments on the car loan totaled $200 per month.
Required:
Calculate Andy's employment income for 20X1.

Question

Andy worked for High Speed Bikes Inc. from March 1st - December 31st during 20X1. He earned a monthly salary of $4,000 plus 1% commission on all of his
sales. During 20X1, Andy's sales totaled $800,000. Andy was required to pay for his employment expenses. He traveled out of his city most days in order to sell
to customers in surrounding towns. He received an allowance of $500 per month to cover his traveling costs. Andy and his employer each contributed $2,000 to
the company's registered pension plan.
Andy provided you with the following receipts for 20X1:
  Andy purchased a new vehicle for work during the year, and drove it a total of 25,000 kms while employed at High Speed Bikes. 12,000 of these kilometres were for business. The vehicle cost Andy $32,000 plus GST of 5% and PST of 5%. Work-related interest payments on the car loan totaled $200 per month.
Required:
Calculate Andy's employment income for 20X1.

Quizplus · Accepted Answer

The Answer of Andy worked for High Speed Bikes Inc. from March 1st - December 31st during 20X1. He earned a monthly salary of $4,000 plus 1% commission on all of his
sales. During 20X1, Andy's sales totaled $800,000. Andy was required to pay for his employment expenses. He traveled out of his city most days in order to sell
to customers in surrounding towns. He received an allowance of $500 per month to cover his traveling costs. Andy and his employer each contributed $2,000 to
the company's registered pension plan.
Andy provided you with the following receipts for 20X1:
  Andy purchased a new vehicle for work during the year, and drove it a total of 25,000 kms while employed at High Speed Bikes. 12,000 of these kilometres were for business. The vehicle cost Andy $32,000 plus GST of 5% and PST of 5%. Work-related interest payments on the car loan totaled $200 per month.
Required:
Calculate Andy's employment income for 20X1.

Andy Worked for High Speed Bikes Inc