Solution to Assignment Problem 15-9, 14

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

This preview shows pages 1–3. Sign up to view the full content.

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

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
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:
This is the end of the preview. Sign up to access the rest of the document.

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

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online