Q Ltd., a Canadian corporation, owns 100% of the shares of R Ltd. The R shares have an ACB of $110,000 and are now worth $230,000. Rs only asset is land having a cost of $80,000 and a current value of $230,000. The land was worth $110,000 when Q purchased Rs shares. Both corporations have September 30 year-ends. On October 31 R is wound up into Q. What is the ACB of the land in Q after the wind-up? 80000

Sam owns all of the shares of X Ltd. Sofia owns all of the shares of Y Ltd. The owners plan to combine their businesses by amalgamating the two corporations on September 1st of the current year. The shares of X have an ACB of $5,000 and are currently worth $130,000. The shares of Y have an ACB of $7,000 and are currently worth $160,000. X and Y are both Canadian corporations and have a December 31 taxation year-end. What is the ACB of the shares of the amalgamated corporation received by Sam? 12000