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Discuss what are the calculations behind it

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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?

Reference no: EM131762784

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