the answer to this question is Q8.8= Taxes paid 5 $14 850 just need to find how we get that answer for this question, please help NO EXCEL 8.8 (LG 8.7, 8.9) A company's second year operations can be summarized as follows:Revenues: $110 000Expenses (except CCA): $65 000Its capital asset purchases in the first year totalled $100 000, with none in theWith a CCA rate of 20 percent and a tax rate of 55 percent, howsecondyear.much income tax did it pay?

Answered: Image /qna-images/answer/893b2b63-c6d0-4ff7-ad36-c2bde2f623dc.jpg

Answered: please help NO EXCEL

Business

Accounting

please help NO EXCEL

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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Concept explainers

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.

Question

the answer to this question is Q8.8= Taxes paid 5 $14 850 just need to find how we get that answer for this question, please help NO EXCEL

8.8 (LG 8.7, 8.9) A company's second year operations can be summarized as follows:
Revenues: $110 000
Expenses (except CCA): $65 000
Its capital asset purchases in the first year totalled $100 000, with none in the
With a CCA rate of 20 percent and a tax rate of 55 percent, how
second
year.
much income tax did it pay?

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