Central Products Ltd. is in the process of completing its 2020 financial statements and tax return. A junior accountant has given you a list of items that they do not know how to treat for tax purposes. Select how each of the items will be treated for tax purposes for the 2020 taxation year?

Central Products Ltd. Is in the process of completing Its 2020 nancial statements and tax return. Ajunior accountant has given you a list of items that they do not know how to treat for tax purposes. Select how each of the Items wllt be treated for tax purposes for the 2020 taxataon year 1. Purchase price of a patent giving the company exclusive rights to manufacture a product 15 120,000 2. Cost of annual dues to a goifcluh for three senior salespeople to entertain existing and potential customers 3 The union contract expired four months before the year end and bargaining is still in process. A3% wage $ 60 000 ' increase is expected, and the company has recorded a reserve to cover the tourmonth period ' 4 Legalfees paid for making a representation to a provinciai government against a proposai to introduce a 15 000 ' payroll tax ' 5. Donations paid to a registered charity 6. Advertising in a foreign trade newspaper that was distributed to Canadian customers ? Travel costs {airfare and lodging) for a senior executive to visit a Foreign supplier to inspect and sign a 3 000 ' purchase agreement for a new manufacturing machine. The machine was delivered and used in 2020 ' 8. Legal, accounting, and printing costs to prepare a prospectus offering common shares for sale to the public 32,000