Hello do you know how to do Cooperate income taxes Before tax income from continuing operations $525,000 Other Comprehensive Income, not tax affected, arising from portfolio revaluations $50,000 Annual life insurance premium paid on its top management team $11,000 Insurance premiums of this is non deductible for tax purposes Book value and UCC of capital assets at December 31, 2015 was $1,081,000 and $806,000 respectively and resulted in a deferred tax balance of $82,500 an accrual for restructuring charges to reorganize the company's operations, in 2015, which is tax deductible when paid, of $150,000 The balance in the estimated restructuring liability at the end of 2015 was $100,000 and $75,000 was paid in 2016 Depreciation and CCA of $180,000 and $163,500 were recorded respectively in 2016 There were no additions or disposals A normal non capital recorded sale receivable for accounting purposes but with special terms of trade was made in 2015 with a profit of $52,000 The sale was made on delayed payment terms resulting in being taxed upon cash receipt with 10 down payment received in 2015 and $15,600 received in 2016 Interest and penalties levied by CRA in an ongoing tax dispute amounted to $2,000 Dividends received from taxable Canadian corporations amounted to $5,500 In 2015, PGL suffered a tax loss resulting in a Deferred Tax balance of $135,000 in full recognition of the loss being reported at December 31, 2015 The statutory tax rate for 2016 is 32 On February 18, 2017, before the 2016 financial statements were approved for release, the statutory rate was reduced to 28 for 2017 and the foreseeable number of years Required 1 A Prepare, with supporting calculations, the tax provision (entries) for the year ended December 31, 2016 B Tax Reconciliation Deferred Tax Analysis (Show supporting calculations of any derived account balances) I tem Tax Acctg Difference Ending DTA DTL Beginning DTA DTL Adjust Tax entries Required 2 Prepare, in good form, the Statement of Comprehensive income beginning with income from continuing operations before tax Statement of Comprehensive Income (partial) For the year ended December 31, 2016 Required 3 What is the effective tax rate on normal income

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Hello do you know how to do Cooperate income taxes?

Before tax income from continuing operations: $525,000. Other Comprehensive Income, not tax affected, arising from portfolio revaluations: $50,000

Annual life insurance premium paid on its top management team: $11,000.Insurance premiums of this is non-deductible for tax purposes. Book value and UCC of capital assets at December 31, 2015 was $1,081,000 and $806,000 respectively and resulted in a deferred tax balance of $82,500.

an accrual for restructuring charges to reorganize the company's operations, in 2015, which is tax deductible when paid, of $150,000. The balance in the estimated restructuring liability at the end of 2015 was $100,000 and $75,000 was paid in 2016.

Depreciation and CCA of $180,000 and $163,500 were recorded respectively in 2016. There were no additions or disposals.

A normal non-capital recorded sale/receivable for accounting purposes but with special terms of trade was made in 2015 with a profit of $52,000. The sale was made on delayed payment terms resulting in being taxed upon cash receipt with 10% down payment received in 2015 and $15,600 received in 2016.

Interest and penalties levied by CRA in an ongoing tax dispute amounted to $2,000.Dividends received from taxable Canadian corporations amounted to $5,500.

In 2015, PGL suffered a tax loss resulting in a Deferred Tax balance of $135,000 in full recognition of the loss being reported at December 31, 2015. The statutory tax rate for 2016 is 32%. On February 18, 2017, before the 2016 financial statements were approved for release, the statutory rate was reduced to 28% for 2017 and the foreseeable number of years.

Required #1:

A. Prepare, with supporting calculations, the tax provision (entries) for the year ended December 31, 2016.

Tax Reconciliation:

Deferred Tax Analysis: (Show supporting calculations of any derived account balances)

Item Tax Acctg Difference Ending DTA/DTL Beginning DTA/DTL Adjust

Tax entries:

Required #2:

Prepare, in good form, the Statement of Comprehensive income beginning with "income from continuing operations before tax...".

Statement of Comprehensive Income (partial)

For the year ended December 31, 2016

Required #3:

What is the effective tax rate on normal income?