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Question - Open box is a Canadian controlled private corporation. During the taxation year ending December 31, 2020, the company has the following amounts of property income:
Net rental income: 17 600
Capital Gains: 91500
Dividends from portfolio investments 41 300
Interest on Long term investments 17500
Foreign non business income-net of 8 percent withholding: 18400
The company 2020 net income for tax purposes is 232 500. The company has available a net capital loss carry forward of 24000 ((1/2)($48000) which is deducted from taxable income. A 14 250 small business deduction and a foreign non business tax credit of 1600 served to reduce tax payable. Assume that the company part 1 tax payable has been correctly determined to be 37 133. Determine the refundable amount of Part 1 tax for the year ending December 31 2020?
On June 30, 2016, Hardy Corporation issued $11.5 million of its 12% bonds for $10.5 million. The bonds were priced to yield 14%. The bonds are dated June 30, 2016, and mature on June 30, 2026. Interest is payable semiannually on December 31 and July ..
Calculate the firm's free cash flow (FCF) for the year ended December 31, 2012. Calculate the firm's operating cash flow (OCF) for the year ended December 31, 2012.
Parents hold the mortgage and deed to real estate property but their adult daughter lives in the residence and pays the mortgage. Her parents purchased the residence for the daughter because she did not have a sufficient credit rating to allow her to..
Stylon returned merchandise with an invoice amount of $7,500, receiving a credit memo. Journalize Stylon's entries to record (a) the purchase
Examine ethics involved in reporting leases, focusing on the ethical violations of off-balance-sheet financing, when capital leases were misreported
Calculate net income and Retained earnings based on the information below. Be sure to show all work and label each answer clearly.
Find What should the Fed do if the economy grows rapidly while inflation also rises to an annual rate of 7.5%? Tighten to increase interest rates.
Which of the following would most likely not be depreciated or amortized using the straight-line method?
Describe the procedures a company follows when it makes a distribution through dividend payments. disadvantages of a firm repurchasing its own shares
Assume there are 10 songs on the CD and that she would like five of them. What is the probability that she likes the first song?
Develop a business plan for an event company. Identify alternative venues (indoor vs. outdoor, city vs. suburb). Calculate Breakeven point and Target Profit. Describe why you made certain decisions and price points.
Effective communication is vital to constructing. How would your communication and interview techniques for building a health history differ with each patient?
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