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A corporation, whose business was the rental of residential properties, owned a class 1 building with undepreciated capital cost (UCC) of $100,000. Rental revenue, including
- A corporation, whose business was the rental of residential properties, owned a class 1 building with undepreciated capital cost (UCC) of $100,000. Rental revenue, including unearned rent deposits of $1,000, was $35,000. Total expenses, excluding capital cost allowance (CCA) and repairs, were $15,000. Replacing the shingle roof with a metal roof for $10,000 was the only repair. What is the net rental income to be included in net income?
- $15,800
- $14800
- $14600
- $5000
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Cornerstones Of Cost Accounting
Authors: Don Hansen, Maryanne M. Mowen
1st Edition
053873678X, 978-0538736787
