Question 5)Canada, US, and China.Taxable incomeNet Canadian active business incomemanages by Canadian citizens who are in Ontario. They have activities inNet taxable capital gainroyalty incomeinterest expenseForeign Dividendsalary expenseForeign tax paid for businessForeign tax paid for None business250,000 $50,000 $15,000 $5,000 $2,000 $5,000 $75,000 $8,000 $12,000 $How much they have to pay for Federal tax?Canadasalary45,000 $China 5,000 $US 25,000 $revenue150,000 $40,000 $60,000 $

Tax : It is the amount which is levied by the country/state on the pay income of the individual and…

Answered: ncome 250,000 $ dian active business…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Prob. of state S&P 500 Technology T-Bills -15% State International Fund + 1% GDP .25 8% 5% 30% + 2% GDP .50 12% 15% 15% + 3% GDP .25 16% 45% 5% 0%
Question:29 Your corporation has the following cash flows: Operating income $ 2,50,000 Interest received 10,000 Interest paid 45,000 Dividends received 20,000 Dividends paid 50,000 If the applicable income tax rate is 40 percent, and if 70 percent of dividends received are exempt from taxes, what is the corporation's tax liability? A) $74,000 B) $88,400 C) $91,600 D) $100,000 E) $106,500
Encino Aluminium Company Year Cash Flow Cost of Capital 12% (75,000) 1 $ 2 $ 3 $ 18,000 18,000 18,000 4 $ 18,000 5 $ 6 $ 7 $ 18,000 18,000 18,000 24 3,000
Probability of financial Value of debt distress $0 0% $2,500,000 1% $5,000,000 2% $7,500,000 4% $10,000,000 8% $12,500,000 16% $15,000,000 32% $20,000,000 64%
Vikings Inc. reports the following amounts: Book Value Fair Value Assets $400,000 $500,000 45,000 Liabilities 45,000 Net income 25,000 How much goodwll would be recorded If Torretta Holdings purchases Vikings, assuming Its llabilitles, for $635,000? Multiple Choice O $100,000. $180,000. $255,000. $280,000. < Prev ype here to search 99+ II
00 Sarasota Industries has Cash of $220,000, Accounts receivable of $130,000, inventory of $180,000, equipment of $300,000 and accounts payable of $175,000. What is the company's: Working Capital Current ratio Quick ratio ו T רJ D Focus A.-ニーーL הד ד 000 UL U T e1 of 3 545 words 1:20 AM P ツ 10/28/2021 50°F P Type here to search M Get more done with the latest Intel Core processor
Perena Corporation A. 272,500B. 280,000C. 275,000D. 277,500
ff1
Income statement 2021 £,000 Sales 7000 Cost of sales -3000 Gross profit 4000 Administration and distribution expenses -1000 Interest payable -500 Dividend received 600 Profit before tax 3100 Taxation -1000 Profit after tax 2100 Balance Sheet 2021 2020 £'000 £'000 £'000 £'000 Assets: Non-Current Assets Property, plant and equipment 13000 10000 Investment 3000 3000 16000 13000 Current Assets Inventories 5500 5000 Trade receivables 2500 4500 Cash at bank 1000 9000 0 9500 Total Assets 25000 22500 Equity and Liabilities: Share capital 6000 5000 Share premium account 3000 2000 Retained earnings 3900 3000 12900 10000…

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

ncome 250,000 $ dian active business income 50,000 $ ble capital gain