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Required Show all of the calculations used to provide the following required information, including those for which the result is nil. For Vassalboro Ltd .
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Show all of the calculations used to provide the following required information, including those for which the result is nil.
For Vassalboro Ltds taxation year, calculate the following:
A Part I tax payable
B The refundable portion of Part I tax
C Part IV tax payable
D The balance in the GRIP account as of December
E The balance in the eligible and noneligible RDTOH accounts as of December
F The amount of any dividend refunds resulting from the payment of eligible dividends
G The amount of any dividend refunds resulting from the payment of noneligible dividends
H Federal Tax Payable for net of any dividend refund
I. The balance in the eligible RDTOH and noneligible RDTOH accounts as of January
Vassalboro Ltd is a CCPC involved in the distribution of domestically produced laser products. For the taxation year ending December its net income was made up of the components that follow. View the components of net income.
On December Vassalboro Ltd has a positive GRIP account balance of $ and a nil balance in both the Eligible and NonEligible RDTOH. Vassalboro Ltd paid no taxable dividends in In the corporation's adjusted aggregate investment income AAII was $ and its taxable capital employed in Canada TCEC was $ million.
View the taxable dividends information.
Read the requirements.
Components of net income.
tableActive Business Income,$
PLEASE SHOW CALCULATION FOR EACH PART. THANK YOU.
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