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1)A firm has recently purchased Class 10 equipment for $100,000 with a CCA rate of 30%. What undepreciated capital cost in the beginning of second year? Use the Accelerated investment rate Select one: O a. $55,000 O b. $59,500 O c. $16,500 O d. $25,500

1)A firm has recently purchased Class 10 equipment for $100,000 with a CCA rate of 30%. What undepreciated capital cost in the beginning of second year? Use the Accelerated investment rate Select one: O a. $55,000 O b. $59,500 O c. $16,500 O d. $25,500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please get the correct answer for questions 1), 2) and 3). Thanks

1) A firm has recently purchased Class 10 equipment for $100,000 with a CCA rate of 30%. What undepreciated capital cost in the beginning of second year? Use the Accelerated investment rate Select one: O a. $55,000 O b. $59,500 O c. $16,500 O d. $25,500 2) You have just received a dividend of $100 from a large Canadian corporation. Your federal marginal tax rate is 26%. The gross up is 38% and the dividend tax credit is 0.150198. Calculate the income taxes payable Select one: a. $13.00 Ob. $35.88 O . $20.73 O d. $15.15 3) You have just received a dividend of $100 from a large Canadian corporation. Your federal marginal tax rate is 26%. The gross up is 38% and the dividend tax credit is 0.150198. What is the amount for dividend tax credit? Select one: a. $13.00 O b. $35.88 O c. $15.15 O d. $20.73
Transcribed Image Text:1) A firm has recently purchased Class 10 equipment for $100,000 with a CCA rate of 30%. What undepreciated capital cost in the beginning of second year? Use the Accelerated investment rate Select one: O a. $55,000 O b. $59,500 O c. $16,500 O d. $25,500 2) You have just received a dividend of $100 from a large Canadian corporation. Your federal marginal tax rate is 26%. The gross up is 38% and the dividend tax credit is 0.150198. Calculate the income taxes payable Select one: a. $13.00 Ob. $35.88 O . $20.73 O d. $15.15 3) You have just received a dividend of $100 from a large Canadian corporation. Your federal marginal tax rate is 26%. The gross up is 38% and the dividend tax credit is 0.150198. What is the amount for dividend tax credit? Select one: a. $13.00 O b. $35.88 O c. $15.15 O d. $20.73
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