prob12-7 (fall 2011 final review)

prob12-7 (fall 2011 final review) - Problem 12-7 (Text: Ch....

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Problem 12-7 (Text: Ch. 12) Dundastard Processors Limited is a Canadian-controlled private corporation with processing operations in Dundas, Ontario. The following data were gathered for the fiscal year ending December 31, 2011. Income from processing operations in Canada. .................................................. $75,250 Income from farming operations in Canada. ........................................................ 17,000 Royalties. ................................................................................................................ 10,000 Income from specified investment business. ........................................................ 55,000 Taxable capital gains. ............................................................................................. $35,000 Allowable capital losses. ....................................................................................... 20,000 15,000 Interest on Canadian bonds. ................................................................................... 7,000 Taxable dividends received from non-connected Canadian corporations. ......... 5,000 Taxable dividends received from a 60%-owned Canadian corporation which received a dividend refund of $4,000 for the year
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prob12-7 (fall 2011 final review) - Problem 12-7 (Text: Ch....

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