Question
25.Company B,a CCPC provides you with the followingincome data for this fiscal year: CdnInvestment:$4,000 Foreign InvestmentIncome:$10,000,beforeforeigntax paid of $1,000 CanadianDividends: $10,000 Taxesotherwise payable for Non-Business
25.Company B,a CCPC provides you with the followingincome data for this fiscal year:
CdnInvestment:$4,000
Foreign InvestmentIncome:$10,000,beforeforeigntax paid of $1,000
CanadianDividends: $10,000
Taxesotherwise payable for Non-Business ForeignTax credit calculation purposes: $2,000
Net Income: $50,000
Based on the given information above,This year'smaximumnon-business foreign tax credit is?
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
2nd Canadian Edition
