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Welshorsky Inc. presents you with the following information for its taxation year ending 2021. Income from continuing operations before income taxes $ 600,000 Gain on
Welshorsky Inc. presents you with the following information for its taxation year ending 2021. Income from continuing operations before income taxes $ 600,000 Gain on discontinued operations 50,000 Correction of prior year's error in recording depreciation e on equipment. The depreciation expense was understated 2020 and the capital cost allowance was correctly calculated. 10,000 An unrealized holding gain on investments accounted for at fair value through other comprehensive income (FV-OCI). Assume that this will be taxable as ordinary income when it is realized 20,000 Tax rate all years 25%
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