Solution to Assignment Problem 15-9, 14

Solution to Assignment Problem 15-9, 14 - Solution to...

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Solution to Assignment Problem 15-9 The Provincial Allocation for Borodin Ltd . Province Gross Revenues $ Amount Percent $ Amount Percent Alberta 928,000 16 3,338,400 16 BC 1,160,000 20 4,798,950 23 Nova Scotia 754,000 13 2,921,100 14 Sask. 464,000 8 2,503,800 12 Ontario 2,494,000 43 7,302,750 35 Total 5,800,000 100 20,865,000 100 The total Taxable Income of $2,983,000 for Borodin Ltd. would be allocated to each province based on the average of the two percentages: Province (% Wages + % Revenues)/2 Provincial % X TI TI allocated to the Province Alberta (16 + 16)/2 = 16 16% X 2,983,000 $ 477,280 BC (20 + 23)/2 = 21.5 21.5% X $2,983,000 $ 641,345 N.S. (13 + 14)/2 = 13.5 13.5% X $2,983,000 $ 402,705 Sask. (8 + 12)/2 = 10 10% X $2,983,000 $ 298,300 Ontario (43 + 35)/2 = 39 39% X $2,983,000 $1,163,370 Total 100 $2,983,000
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Solution to Problem 15:14 Part A : Calculate NIFTP for Industrial Tools Ltd.: 3(a) Income from All Sources: Accounting Income Before Taxes $2,305,000 Add Back:
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Solution to Assignment Problem 15-9, 14 - Solution to...

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