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Hi I posted all question this time I hope I do not miss any required information yo get your help thanks i advance Use NR

Hi I posted all question this time I hope I do not miss any required information yo get your help thanks i advance

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Use NR for the corporation's business number. It is a Canadian Controlled Private Corporation (CCPC) based in Ontario. \"Your First Name\" Inc. was incorporated in Ontario on March 1, 2002. Its head ofce is located at 200 King Street, Toronto, Ontario, M5A 3W8. Its telephone number is (416} 111-1111. The signing officer and contact person is the President/Director of the corporation, Lance Sterling. "Your First Name" Inc. is a Home Centre (that carries building and garden equipment and supplies) and it operates only in the Province of Ontario. Most of its income is earned from an active business. Its main revenue generating business activity is 444110. Its Ontario Corporation number is 1234567. The type of the company is a Limited liability corporation (17}. It is associated with Another Inc. which is also a CCPC and has a December 31 scal year end. Use NR for Another Inc.'s corporation business number. Another Inc.'s Taxable Capital Employed in Canada in 2018 was $1,000,000. The small business deduction is allocated 40% to Another Inc. and 60% to \"Your First Name\" Inc. "Your First Name\" Inc. owns 25% of the voting shares of Another Inc. As at December 31, 2019, the following information applied to \"Your First Name" Inc.: Taxable Capital Employed in Canada at the end of 2018 RDTOH at the end of 2018 Dividends Declared and Paid during 2018 GRIP Balance at the end of 2018 Adjusted Aggregate Investment Income during 2018 (Assume there are no AAII implications in 2019 taxation year.) $2,000,000 $70,000 NI L NIL NIL During the taxation year ending December 31, 2019, the condensed before tax Income Statement of "Your First Name\" Inc. was prepared in accordance with the International Reporting Standards {IFRS}. There are no notes prepared to this financial statement. In condensed form it is as follows: "Your First Name\" Inc. Income Statement Year Ending December 31, 2019 Sales Revenue 53,000,000 Gain on Sale of Building 250,000 53,250,000 Amortization Expense S 400,000 Other Expenses Excluding Taxes 1,800,000 2,200,000 Accounting Income Before Taxes $1,050,000 Other information: 1. Other Expenses include interest a nd penalties of $3,000 as a result of the failure to le the 2018 tax return on time. 2. Other expenses also include a deduction for meals and entertainment of $6,000 and a deduction for membership dues at a Golf and Country Club of $15,000. 3. Other Expenses also include a deduction for charita ble donations to the United Way of $24,000. 4. Sales Revenue includes an eligible dividend of $50,000 received from Snow Inc., a taxable Canadian Corporation. \"Your First Name" Inc. is neither associated nor connected with Snow Inc. The dividend received is considered a portfolio dividend. 5. Sales Revenue also includes an ineligible dividend of $80,000 received from Another Inc. Another Inc. received a dividend refund of $90,000 when it paid total dividends of $320,000. The $80,000 that \"Your First Name\" Inc. received is 25% of the total dividend. 6. \"Your First Name\" Inc. paid a taxable ineligible dividend of $40,000 [to other than connected corporations). 7. During 2019 \"Your First Name\" Inc. ea med $100,000 of interest income on bonds purchased in 2015 that mature in 2020. 8. \"Your First Name\" Inc. has available a non-capital loss carry over of $20,000 from the previous year. It also has a net-capital loss carry over from 2011 of $30,000 {1,12 of $60,000). 10. 11. 12. 13. 14. On January 1, 2019, \"Your First Name" Inc. had the following UCC balances: Class 1 $200,000 Class 8 $57 5,000 Class 10 45,000 Re. Class 1: The building was acquired on July 1, 2005, for $600,000 of which $200,000 was allocated to the la nd (hence the capital cost, $400,000 was allocated to the build ing). This was the only asset in Class 1. The Gain on the Sale of Building resulted from the sale of the building for proceeds of $850,000 of which $250,000 was allocated to the land upon which the building was situated [hence $600,000 was allocated to the building). Re. Class 8: There were no dispositions in Class 8 during the year, but there was an addition of $80,000 to Class 8. This addition was eligible for the Accelerated investment incentive property (AIIP) treatment. Re. Class 10: As \"Your First Name\" Inc. has decided to lease all of its vehicles in the future, all of the assets in Class 10 are sold during the yea r. The capital cost of these assets was $75,000 and the proceeds of disposition amounted to $20,000. The net book value of these assets was $55,000 and the resulting accounting loss of $35,000 was included in Other Expenses. All of the common shares of \"Your First Name\" Inc. were owned by Walter Smart whose SIN is 123-456-789. 15. The beginning balance in \"Your First Name" Inc.'s capital dividend account is nil. 16. \"Your First Name" Inc. paid one federal tax instalment of $250,000 on March 1, 2019

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