During the year, Makisha Fashions Inc has the following sources of income: Taxable capital gains $50,000. Allowable capital losses 42,000. Dividends from taxable Canadian corporations 30,000. Foreign source property income 5,000. What is the total aggregate investment income? $6,000 $31,000 $48,000 $13,000

Question 1 4 points Save Answer During the year, Makisha Fashions Inc has the following sources of income: Taxable capital gains $50,000, Allowable capital losses 42,000. Dividends from taxable Canadian corporations 30,000. Foreign source property income 5,000. What is the total aggregate investment income? $6,000 O $31,000 O $48,000 O $13,000 Question 2 4 points Save Answer During the year ending December 31, 2020, Oxdor Ltd., a Canadian controlled private corporation had the following sources of income. Active Business Income Earned In Canada=$230,000. Active Business Income Earned In New York State=126,000. Net Taxable Capital Gains =30,000, Rent Received on An Unused Portion Of The Company's Manufacturing Facility=45,000, Investment Income Earned In Canada =16,000, Net Incone For Tax Purposes= $447,000, Taxable Income=$260,000. The Company paid no foreign taxes on its foreign operations. It is associated with another corporation and they agreed to split the annual business limit on a 50/50 basis. What is the maximum amount of income on which the Company can claim the small business deduction? $223,000 $349,000 $231,000 $250,000 Question 3 4 points Save Answer Concept Corp, a CCPC, correctly calculated its taxable income for its year ended December 31, 2020 as follows: Income from retailing business carried on in Canada =$140, 000, Loss from retailing business carried on in United States=(30, 000), Interest income from long-term bonds=20, 000,Taxable capital gain from sale of a capital asset =10, 000, Net income=$140, 000, Non-capital losses= (5,000), Taxable income =135, 000, Concept Corp and X Ltd, are associated corporations. X Ltd. claimed a 19% small business deduction on $350, 000 for 2020. The taxable capital of Concept Corp. and X Ltd. is significantly less than $10 million. Which one of the following amounts is the maximum 19% small business deduction for Concept Corp for 2020? $17, 000 $19, 550 $25,650 $22, 440