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Problem 1: On June 4, 2020, Ms. Annie Rawlings purchased an automobile to be used exclusively in her unincorporated business. The cost of the automobile was $42000, before GST and PST. She finances a part of the purchase price and, as a consequence, has financing charges for the period June 4, 2020 to December 31, 2020 of $3400. Ms. Rawlings has decided not to deduct any CCA this year. Ignoring any deduction for CCA, how much other costs can Ms. Rawlings deduct in 2020 with respect to this vehicle acquisition?
question 1yellow communications limited is a public company whose shares are traded on the tsx. the company is a
LCI decided it is not probable that the performance objectives will be met. Prepare the appropriate entries on December 31 of 2023 and 2024
The Pita Pit borrowed $202,000 on November 1, 2018, and signed a six-month note bearing interest at 12%. Principal and interest are payable in full at maturity on May 1, 2019. In connection with this note, The Pita Pit should report interest expense ..
Beale Management has a noncontributory, defined benefit pension plan. The company provided the following information regarding its pension accounts for the fiscal year ended on December 31, 2015.
Calculate retained earnings from the following data; calculate the retained earnings balance as of December 31, 2009:
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Find X should record the machinery at. X purchased machinery for $50,000 from a company based in Australia. X also paid $4,000 in customs duty
Albertville Inc. produces leather handbags. The production budget for the next four months is: July 5,000 units, August 7,000, September 7,500, October 8,000. Each handbag requires 0.5 square meters of leather. Albertville Inc.’s leather inventory po..
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Caterpillars Inc., a manufacturing company, acquired equipment on January 1, 2012 for $500,000. Estimated useful life of the equipment was 7 years and the estimated residual value was $10,000. On January 1, 2015, after using the equipment for 3 years..
Record Rankin ?Corporation's issuance of the bonds on March? 31, 2019?, and payment of the first semiannual interest amount and amortization
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