User Account

All Pages

Determine the amount available for distribution

Assignment Help Accounting Basics
Reference no: EM132429562

Question - B Ltd. sold its assets on January 2, 20X5, two days after its December 31, 20X4 year-end for $1,600,000. The sale price includes inventory $100,000, land $600,000, and building $900,000. The original cost of these assets was: inventory $60,000, land $500,000, and building $800,000. The undepreciated capital cost of the building was $730,000. There are no liabilities. At December 31, 20X4 the Non-eligible RDTOH balance was $40,000. Determine the amount available for distribution to the shareholders after the sale of assets. Assume a provincial tax rate of 4% on the first $500,000 of business income and 12% on the remainder.

Reference no: EM132429562

Questions Cloud

Diagnosis and treatment of children with adhd : Review changes from the diagnostic criteria in the DSM-IV-TR to the DSM-5. Do you think that the changes lead to less discrepancy regarding proper diagnosis?
People who make internal attributions : People who make internal attributions also tend to make stable and global attributions.
Determine X refundable tax on investment income : The $500,000 business limit has been assigned to an associated corporation. Determine X's refundable tax on investment income
What is the benefit for using reasoning : What is the benefit for using reasoning when it comes to moral and ethical issues?
Determine the amount available for distribution : B Ltd. sold its assets on January 2, 20X5, two days after its December 31, 20X4 year-end for $1,600,000. Determine the amount available for distribution
What are two benefits and two limitations of interventions : What are two benefits and two limitations of interventions at the individual, small group, organizational, and community levels for facilitating social change
Compare and contrast the two potential categorizations : Explain how this exercise shows that the concepts of race, ethnicity, and even gender change over time. Most importantly, explain how this exercise
Concept of defense mechanisms : What do you see as the differences among the Id, the Ego, and the Superego? How do these components of personality relate to Freud's concept of defense
What is Gary basis in his partnership interest : Assuming that the partners share profits and losses equally what is Gary's basis in his partnership interest at the end of 2019

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd