Question
The following information relates to Excel Gum Inc, a CCPC, with a year ended December 31, 2018. Active business income earned inCanada$475,000 Net income, DivisionB550,000
The following information relates to Excel Gum Inc, a CCPC, with a year ended December 31, 2018.
Active business income earned inCanada$475,000
Net income, DivisionB550,000
Taxableincome545,000
Excel Gum Ltd. is not associated with any other corporation. Excel Gum Ltd. did not earn any foreign business income nor any investment income. Excel Gum Ltd.'s taxable capital is well below $10 million. Which of the following amounts is the maximum general rate reduction for the year ending December 31, 2018:
a.$9,100
b.$59,735
c.$5,850
d.$70,850
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
17th Edition
1260247783, 978-1260247787
