XYZ Corporation has accounting income for the year ending October 31 of $ 174795. Included in this calculation are the following amounts: • Meals and entertainment $ 37151 • Amortization and depreciation $ 64294 • Dividend from Canadian subsidiary $ 51049 You have correctly determined CCA to be $ 2878. What is the correct amount of taxable income?

XYZ Corporation has accounting income for the year ending October 31 of $ 174795. Included in this calculation are the following amounts: • Meals and entertainment $ 37151 • Amortization and depreciation $ 64294 • Dividend from Canadian subsidiary $ 51049 You have correctly determined CCA to be $ 2878. What is the correct amount of taxable income?

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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