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QUESTION 5 The company spent $9,600 on advertising in a foreign magazine. The ads were targeting Canadian customers in an ethnic neighbourhood where the foreign
QUESTION 5 The company spent $9,600 on advertising in a foreign magazine. The ads were targeting Canadian customers in an ethnic neighbourhood where the foreign magazine is very popular. QUESTION 6 During 2021, the Company acquired a competing business at a price that included goodwill of $16,600. For accounting purposes, there has been no impairment or write-down of the goodwill since its purchase. The Company does not own any other intangible property. OLLECTION 7 the company 2021 year ended taxation year ending december 31,2021. using ASPE the accountant has determined that the company has experienced a loss of $120,00 before income taxes. for each question provide the effect on the reconciliation of Net Loss for accounting purposes to minimum net business income/loss for tax purposes. QUESTION 5 The company spent $9,600 on advertising in a foreign magazine. The ads were targeting Canadian customers in an ethnic neighbourhood where the foreign magazine is very popular. QUESTION 6 During 2021, the Company acquired a competing business at a price that included goodwill of $16,600. For accounting purposes, there has been no impairment or write-down of the goodwill since its purchase. The Company does not own any other intangible property. OLLECTION 7 the company 2021 year ended taxation year ending december 31,2021. using ASPE the accountant has determined that the company has experienced a loss of $120,00 before income taxes. for each question provide the effect on the reconciliation of Net Loss for accounting purposes to minimum net business income/loss for tax purposes
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