Mr. Cauzone decided to wind-up his Company on Dec/31/17. After selling all assets and settling all liabilities, there's $122,000 of Cash left in the
Mr. Cauzone decided to wind-up his Company on Dec/31/17. After selling all assets and settling all liabilities, there's $122,000 of Cash left in the Company. Mr. Cauzone owns all the shares of the Company with ACB of $7,000. He has come to you for advice and provided the following balances:| PUC "paid up capital" "corp surplus on hand" "capital div account" "general rate income pool" $1,000 CSOH CDA GRIP LRIP $5,000 $48,000 $24,000 $44,000 Assuming Mr. Cauzone has no other income, calculate his Federal taxes payable/refundable for 2017, based on above.
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Authors: Larson Kermit, Jensen Tilly
14th Canadian Edition
71051570, 0-07-105150-3, 978-0071051576, 978-0-07-10515, 978-1259066511
