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On January 1, 2019, John Traverse acquires 12,000 units of the RV Income Trust at a cost of $720,000. During 2019, the trust makes a
On January 1, 2019, John Traverse acquires 12,000 units of the RV Income Trust at a cost of $720,000. During 2019, the trust makes a distribution of $5.00 per unit. Of this total $1.50 is a return of capital while the remaining $3.50 is property income. John reinvests the total distribution in RV units at a cost of $55 per unit. What is the adjusted cost base of John's units on December 31, 2019?
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
