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Unformatted text preview: 4,200 (e) utilities service connections, July 15, 2008 5,300 (f) landscaping costs 14,000 (g) moving costs 24,000 (h) maintenance cost for building from September 1, 2008 18,000 (i) semi-annual interest payment made September 30, 2008 @ 12% per annum on bonds 69,000 (j) mortgage insurance premium @ $600 per month from April 1, 2008 5,400 (k) semi-annual dividend payment made September 30, 2008 @ 8% per annum 28,000 (l) issue costs for bonds and preferred shares: (i) legal and accounting fees 21,000 (ii) commissions 80,000 (m) costs of obtaining articles of amendment to allow for issue of preferred shares 3,000 The financial accounting records, also, indicate amortization for financial accounting purposes in the following amounts: (i) amortization of bond discount 1,150 (ii) amortization of discount on preferred shares 3,000 Required : Page 1 Indicate the appropriate tax treatment of each of the expenditures and amortized amounts discussed. Page 2...
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This note was uploaded on 11/19/2010 for the course ACC 742 taught by Professor Sydor during the Spring '10 term at Ryerson.
- Spring '10