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Prior to 2019, the accounting income and taxable income for Martinez Corporation were the same. On January 1, 2019, the company purchased equipment at a cost of $531,000. For accounting purposes, the equipment was to be depreciated over 9 years using the straight-line method. For income tax purposes, the equipment was subject to a CCA rate of 20% (half-year rule applies for 2019). Martinez's income before tax for accounting purposes for 2020 was $1,800,000. The company was subject to a 25% income tax rate for all applicable years and anticipated profitable years for the foreseeable future. Martinez Corporation follows IFRS.
Problem 1: Calculate taxable income and taxes payable for 2020.
On 1 April, additional shares of 12,600 were issued. There were also in issued 5,000 preferred stocks, What is the diluted earnings per share
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Culver Enterprises reported cost of goods sold for 2017 of $1,515,400 and retained earnings of $4,687,300 at December 31, 2017. Culver later discovered that its ending inventories at December 31, 2016 and 2017, were overstated by $107,670 and $36,850..
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Prepare a report of the differential costs and revenues if the lawn service is discontinued and should Renee discontinue the lawn service?
You should have a total of six ratios for each stock, per year. What challenges, strengths, or weaknesses do you see? Please be articulate.
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