Answer each of the Parts separately; show all calculations: Part 1: A parcel, including a building and the land it sits on, was sold in 2023. Given the following facts, determine the terminal loss/recapture and taxable capital gain/loss on the building and land under ITA 13(21.1): - Total proceeds from the sale: $500,000 - Land: o ACB: $280,000 o FMV: $350,000 - Building: o Capital Cost: $200,000 o UCC: 190,000 o FMV: $150,000 Show all calculations in detail. Part 2: Matthew purchased a duplex in January 2022 for $700,000. It is estimated $500,000 is attributable to building. The two units are identical in size, for purposes of CCA class, the property is considered to be a single unit. Note the following: - Matthew purchased furniture and appliances for one of the units at a total cost of $32,000. - In 2022, both units were rented. Rental revenue was $75,000 and he incurred expenses, other than CCA, of $38,000. - In 2023, the tenants moved out and purchased all the furniture and appliances for $28,000 - Matthew deducts the maximum CCA Calculate the rental income for 2022. Also, determine the UCC balances on January 1, 2023. Include in your solution any income tax consequences associated with the sale of the furniture and appliances in 2023, along with the UCC balance of this class in 2024. Part 3: In 2022, Daniella receives $38,700 in non-eligible dividends from Canadian public corporations. The following relates to Daniella: 1. Income is subject to federal income tax of 31% plus 18% for provincial income tax. 2. On non-eligible dividends, the province provides a dividend tax credit equal to 27% of the gross up. Determine the total federal and provincial income tax that will be payable on these dividends, and the after-tax retention Part 4 Sara carries on a business as a sole proprietor and earns $60,000 in business income and has the following expenses: Utility costs for home $2,900 Furniture costs 11,000 Maintenance and repairs for home 800 Property taxes for home 9,000 House Insurance 2,300 Mortgage 45,000 Interest on Mortgage 33,000 Home telephone: Monthly Charge 700 Business Long Distance Charges 100 Personal Related Long Distance Charges 250 Home Internet Fees 600 Sara uses 15% of her home and 45% of her home phone and home internet service for business related purposes. Maximum CCA on 100% of the home would be $20,000. Determine the maximum deduction that could be claimed assuming Sara claims the maximum expenses and CCA. Part 5: Part 5: Andres has a sole proprietorship business, 2022 is the first year of operations. The following information relates to the operations: In 2022 fiscal period, the business has cash sales of $100,000. It also has sales on account of $45,000, of which $18,000 remains outstanding at the end of the 2022 fiscal period. Of those on account, it is estimated that $11,000 will be doubtful of collection. Of the cash received, $28,000 represents advances for merchandise that will only be delivered in the 2023 fiscal period. What is the business income for the 2022 fiscal period

A parcel including a building and the land it sits on were sold in 2023. Given the following facts, determine the terminal loss/recapture and taxable capital gain/loss on the building and land under ITA 13(21.1): - Total proceeds from the sale: $500,000 - Land: ACB: $280,000 FMV: $350,000 - Building: Capital Cost: $200,000 UCC: 190,000 FMV: $150,000 Matthew purchased a duplex in January 2022 for $700,000. It is estimated $500,000 is attributable to building. The two units are identical in size, for purposes of CCA class, the property is considered to be a single unit. Note the following: - Matthew purchased furniture and appliances for one of the units at a total cost of $32,000. - In 2022, both units were rented. Rental revenue was $75,000 and he incurred expenses, other than CCA, of $38,000. - In 2023, the tenants moved out and purchased all the furniture and appliances for $28,000 - Matthew deducts the maximum CCA Calculate the rental income for 2022. Also, determine the UCC balances on January 1, 2023. Include in your solution any income tax consequences associated with the sale of the furniture and appliances in 2023, along with the UCC balance of this class in 2024. In 2022, Daniella receives $38,700 in non-eligible dividends from Canadian public corporations. The following relates to Daniella: 1. Income is subject to federal income tax of 31% plus 18% for provincial income tax. 2. On non-eligible dividends, the province provides a dividend tax credit equal to 27% of the gross up. Determine the total federal and provincial income tax that will be payable on these dividends, and the after-tax retention. Sara carries on a business as a sole proprietor and earns $60,000 in business income and has the following expenses: Sara uses 15% of her home and 45% of her home phone and home internet service for business related purposes. Maximum CCA on 100% of the home would be $20,000. Determine the maximum deduction that could be claimed assuming Sara claims the maximum expenses and CCA. Andres has a sole proprietorship business, 2022 is the first year of operations. The following information relates to the operations: - In 2022 fiscal period, the business has cash sales of $100,000. It also has sales on account of $45,000, of which $18,000 remains outstanding at the end of the 2022 fiscal period. - Of those on account, it is estimated that $11,000 will be doubtful of collection. - Of the cash received, $28,000 represents advances for merchandise that will only be delivered in the 2023 fiscal period. What is the business income for the 2022 fiscal period