Question
P Corporation has permanent establishments in Alberta, British Columbia, and Seattle in the United States. Gross revenues in Alberta=6,000,00, British Columbia=4,000,000 and Seattle=5,000,000.Net income for
P Corporation has permanent establishments in Alberta, British Columbia, and Seattle in the United States. Gross revenues in Alberta=6,000,00, British Columbia=4,000,000 and Seattle=5,000,000.Net income for tax purposes in Alberta=500,000, British Columbia =98,000 and Seattle =325,000 . Salaries and wages Alberta=4,000,000, British Columbia=3,500,000 and Seattle=2,500,000.For the purposes of calculating the federal tax abatement, the percentage of income allocated to a Canadian province would be:
65.79%
61.72%
70.83%
73.57%
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
7th Canadian edition
1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458
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