Reference no: EM131762784

B Inc. purchased a $50,000 bond on its issue date, October 1, Year 1. The bond pays interest at maturity, September 30, Year 4, at a rate of 5% compounded annually. B Inc. has a December 31 year end. What amount of interest must be included in income for Year 1?

D, an individual, received $100,000 of eligible dividends from Canadian corporations in the current year. What amount is included in D's net income for tax purposes for the current year?

E, an individual, received $30,000 of non-eligible dividends from Canadian corporations in the current year. What amount is included in E's net income for tax purposes for the current year (2016)?

F, an individual, received $2,550 of dividends from a foreign corporation. $450 in foreign tax was withheld by the foreign corporations on the $3,000 of dividends. All amounts have been converted to Canadian currency. What amount is included in F's net income for tax purposes for the current year?

H owns a residential rental property. In the current year he received rent of $40,000 and incurred the following expenses: mortgage interest $20,000, property tax $5,000, insurance $3,000, and repairs $7,000. At the beginning of the year the undepreciated capital cost of the building was $320,000. What is the maximum capital cost allowance for the current year?

Hey! Can you please explain to me WHY those are the answers? What are the calculations behind it?