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Assignment problem - Assignment problem Module 9 Tax 1 -CGA...

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Assignment problem

Assignment problem - Assignment problem Module 9 Tax 1 -CGA...

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Assignment problem Module 9 Tax 1 -CGA Problem (Comprehensive Corporate Tax Payable) Startop Ltd. is a Canadian controlled private corporation that was established in Manitoba in  2009. For the year ending December 31, 2010, its accounting Net Income Before Taxes, as  determined under generally accepted accounting principles, was $462,000. Other information  for the 2010 fiscal year follows.  Other Information:  1 Startop sold depreciable assets for $450,000. These assets had an original cost of  $390,000 and a net book value of $330,000. They were Class 8 assets and, at the  beginning of 2010, the balance in this class was $350,000. The Company has other  assets left in this class at the end of the year.  0 The Company’s amortization expense was $546,000. Maximum deductible CCA for the  year was $730,000.  1 2 The Company spent $50,000 on business meals and entertainment. 
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