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Question - Myrle Cocco owns a car that she uses both in her business and for personal use. The cost of the car was $28,000 and, on January 1, 2018, the UCC for the vehicle (it is the only asset in Class 10) was $11,662. During the year she drives the car a total of 42,000 kilometers of which 38,000 were related to her business activities. Her insurance for the year was $950 and her operating costs were $6,500. What is the amount of her maximum deduction for car costs during 2018?
Mystic Lake Inc. bottles and distributes spring water. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year
Closer & Co. incurred the following costs for internal-use software: $12,000 in the preliminary stage of development, $17,000 in external direct material and service costs used in developing the internal-use software, $23,000 in payroll costs for emp..
alicia summers is a vice president at harbor state bank in boston. during 2007 she worked for the bank all year at a
Corporations offer the advantage of limited liability. Explain what is meant by that statement.
A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $2,400 and is paid at the beginning.
Happy Helpers Maid Service is calculating its standard direct labor rate. What is the standard rate per direct labor hour
Suppose that two years after the bonds were issued, the required interest rate fell to 7 percent. What would be the bond's value
For each of the examples given below identify: (a) the different kinds of contracts described; and
What is Counting Crows' comprehensive income for the year ended 2013. What is the ending balance of Retained Earnings? Show calculations. Assume Counting Crows is considering closing a manufacturing plant during 2014. Under what circumstances would t..
Prepare the shareholders' equity section as it should be reported on the statement of financial position at year-end, December 31, 2017
Describe the major determinants of an effective governance system, and how these determinants vary across types of organizations or cultures
Collegiate Tuxedo rents apparel throughout the year. They have experienced non-payment by about 15% of their customers with an average loss of $200. Collegiate wants to stem their losses by using an instant electronic credit check on the customer.
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