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(4) Other income includes: Gain on disposal of an indefinite life licence (proceeds of $44,000; purchased in 2004 for $20,000) $24,000 Gain on disposal of
(4) Other income includes: Gain on disposal of an indefinite life licence (proceeds of $44,000; purchased in 2004 for $20,000) $24,000 Gain on disposal of truck (proceeds of $10,000; net book value of $7,500) 2,500 Interest mcome 3,000 Dividends from taxable Canadian corporations........................... 1,500 Volume rebates 2,000 (5) The truck sold during the year had an original cost of $15,000. A replacement truck was purchased in the year at a cost of $20,000. (6) The corporation has operated from leased premises since 2013 when it spent $30,000 on infrastructure during the first year of a five-year lease with two three-year renewal options. During 2015, improvements were made to the premises at a cost of $6,000. (7) In 2004, the corporation purchased goodwill for $36,000 and an indefinite-term licence (described in {4), above) for $20,000. The balance in the CEC account on January 1, 2015, was $18,904. The 2014 T2 Schedule 8 prepared by the corporation indicates that at December 31, 2014, the corporation had the following nndepreciated capital cost balances: Office equipment $43,000 Leasehold improvements 24,325 The bonus remained unpaid on May 15, 2016 when the 2015 corporate tax return was being prepared
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