Hello, I hope you all are doing great!
As I have one assignment which must be done by software which name “PROFILE Software”. The profile software might be paid and if it’s not free then I’ll pay for it.
Note: While searching on google type it for students because it comes with free trial.
below attached is icon of Profile software.
Once any tutor matched I’ll attach more pictures and pdf to explain in details.
here is the link to download software and it comes with free trial.
pdf is my assignment. but Jerry and smith pdf, rental pdf, business schedule pdf, and jerry t1 pdf those 4 are sample.
Hello, I hope you all are doing great! As I have one assignment which must be done by software which name “PROFILE Software”. The profile software might be paid and if it’s not free then I’ll pay for
Profile Assignment Year 2019 Jerry Smith is a self employed salesman who has been very successful at his job in the past few years. Unfortunately , his family life has had some challenges. Jerry and his wife Judy , adopted their grandson, Paul, after a tragic accident which left Paul without his parents. Paul is blind, and also has major health problems. Judy is not working at the present time, she cares for Paul, as well as her mother, Paula , who also lives with them. Paula suffers from severe depr ession. Paula ’s family doctor has signed a letter stating that she is dependent on Jerry and Jud y, because of her mental impairment. Jerry ’s sister Susy , competed an alcohol rehabilitation program after being fired for drinking on the job. She is also living with Jerry and Jud y while she is enrolled as a full time student at Humber College. Susy pays for her own tuition but Susy wants to transfer any available education related amounts to Jerry . Personal Information: Mr Jerry Smith SIN 499 499 499 Date of Birth June 25, 1956 Marital status: Married Canadian citizen YES Provide information to Elections Canada YES Own fo reign property of more than $100,000 Cdn NO Address: 150 Humber College Blvd, Toronto ON M1M1M 1 Phone number 416 -675 -6612 Spouse Judy Smith SIN 994 994 994 Date of Birth Jan 18, 1959 Net Income CPP Pension Income $5000 Child: Grandson Paul SIN 527 000 517 Date of Birth: Mar 22, 20 10 Net income: NIL Mother in law: Paula S mall SIN 517 -000 -483 Date of birth: Feb 10, 1940 Net Income: $7,000 OAS, $ 3,000 CPP Sister: Susy Smith SIN 527 -000 -533 Date of Birth: April 8, 19 69 Net income: $9,500 Susy ’s Tuition fees (T2202A) Tuition fees paid for Humber College $6,000 No of mths in school part time 2 No of mths in school full time 6 During the year, Susy was arrested in Mexico, Judy had to spend five weeks in Mexico and $2,000 in legal fees to get h er released from jail. Jerry had to pay Nannies on Call $ 4500 for in home help to care for Paul while Judy was gone. Self employment: Smith Company, year end December 31, 2019 Total Sales (Cash and accrual) $500,000 Expenses: Opening inventory $15 ,000 Purchase $200 ,000 Direct labour $100 ,000 Closing inventory $20 ,000 Office supplies $12 ,500 Insurance $5 ,000 Life insurance $3,000 Rent $20 ,000 Telephone $5 ,000 Bank chgs & Interest $4 ,500 Eqiupment lease $5 ,800 Professional fees $6 ,000 Golf club dues $2 ,800 Meals & Entertainment $9 ,500 Work space in his home Home office 650 sq feet Total Home 3000 sq feet Heat $ 2,500 Electric $ 1,000 Insurance $ 500 Repairs $ 2,000 Mortgage payments $12,000 of which interest is $5,000 Property taxes $ 4,000 Water $ 300 Car expenses that Jerry incurred during the year Gas/oil $ 6,000 Repairs $ 1,300 License $ 200 Insurance $ 1,200 Cost of vehicle purchased in the year $45 ,000 Personal Km’s driven 12 ,000 Business Km’s driven 20 ,000 During the year Jerry purchased a new computer and software that was used solely for business r elated purposes. The computer cost $1 ,500 and the software programs cost $1, 50 0 Charitable donations contributed during the year Mothers against drunk drivers $ 1,000 Canadian Cancer society $ 2,000 Jerry and Judy own a rental property – the income and expenses are as follows: Address: 199 Happy Avenue, Toronto, ON M1P 1R6 Purchased in 2010 for $400,000. No CCA has ever been claimed on this property. Rental income received $ 19 ,000 Property taxes $ 5,000 Insurance $ 1,8 50 Interest on mortgage $ 4,175 Principal mortgage pmts $ 2,200 Rep airs $ 1,800 Maintenance contract $ 900 Jerry sold the following assets during the year : Description Maple Leaf shares Imperial Oil Shares Antique Car Painting Number of units 150 387 n/a n/a Year of acquisition 2012 2013 2013 2008 Date of disposition Feb 14 June 6 Oct 1 Aug 28 Proceeds of disposition $3 8,000 $9, 500 $72,000 $1 ,100 Adjusted cost base $27, 500 $12,1 50 $74,000 $450 Selling expenses $50 0 $45 0 n/a n/a At the beginning of the year, Jerry had a net capital loss carryforward of $10,500 from the sale of shares in 2014. RRSP Jerry made a spousal contribution to Jud y’s RRSP during the year, of $5,000, Jerry ’s RRSP contribution limit for the current year, is $12,500. He has undeducted RRSP contributions carried forward of $1,000 . Jud y’s contribution limit is $3,500. T5 for Jerry and Judy jointly Issuer CIBC Power Corporation Actual amount of eligible dividends nil $ 1,000 Taxable amount of eligible dividends nil $ 1,3 80 Interest $ 575 nil Medical expenses: Date Individual Company Type of expense Amount June 5 JERRY Dr Jones dental expense $ ,500 July 6 JUDY Shoppers Drug Perscriptions $ ,300 Aug 12 PAUL Dr Jones dental expen se $ 1,000 Sept 10 JERRY Dr Sanders Pshyio $ 900 Oct 10 SUSY Dr Jones dental expense $ 300 Dec 12 PAULA Shoppers New wheelchair $ 2, 500 Jerry paid $800 for the care and feeding of Paul’s seeing eye dog, Buster, during the year. Please print in PDF format the following: T1 jacket for Jerry and Judy Smith T1 summary for each T776 Rental schedule T2125 Business Scheduleuestion1}