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1. Give and Take Corporation has accounting income of $400.000 for 2019 and they follow IFRS. Included in that income is entertainment expense of $20,000.
1. Give and Take Corporation has accounting income of $400.000 for 2019 and they follow IFRS. Included in that income is entertainment expense of $20,000. On June 30, 2019, they purchased equipment for $150,000. It's CCA rate is 30%. It will last 10 years and has no residual value. G&T rounds depreciation to the nearest month and uses straight line depreciation. In 2019, G&T had an unrealized gain of $10,000 on a FVNI investment. Their lax rate is 25%. Provide all the tax-related journal entries for 2019. Derfonala 50,0005 6 .950
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