This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In 2021, XYZ Inc. located in Ontario had income from operations of $4,650,000, received interest of ... (Read 48 times)

mmmmm

  • Full Member
  • ***
  • Posts: 155
on: Aug 7, 2023

Question 1

If a local Firm X owns 42% of the shares of a Canadian-owned Firm Y, and Y pays dividends to all of its shareholders, what percentage of the dividends received by X can be exempted from its taxable income?

◦

10%


◦

42%


◦

75%


◦

100%



Question 2

In 2021, XYZ Inc. located in Ontario had income from operations of $4,650,000, received interest of $220,000, paid $350,000 in interest, received dividends from another Canadian corporation of $220,000, and paid $510,000 in dividends to its common shareholders. If the applicable income tax rate is 35%, what is the corporation’s tax liability?

◦

$1,265,000


◦

$1,391,000


◦

$1,470,000


◦

$1,582,000

Financial Management: Theory and Practice ¦ Brigham, Ehrhardt, Gessaroli, Nason ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mmmmm on Aug 7, 2023

hariet5

  • Full Member
  • ***
  • Posts: 157
Reply #1 on: Aug 7, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


mmmmm

  • Member
  • Posts: 155
Reply 2 on: Aug 7, 2023
Thanks for the timely response, appreciate it

31809pancho

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

The parathyroid glands. These four glands are located on the posterior side of the thyroid gland. Th The parathyroid glands. These four glands are located on the posterior side of the thyroid gland. Th
Race-Ethnicity and Income Extremes Race-Ethnicity and Income Extremes
Notice that there are conditions when the port fuel-injector, located in the intake manifold, and ... Notice that there are conditions when the port fuel-injector, located in the intake manifold, and ...
The data link connector (DLC) can be located in various locations. The data link connector (DLC) can be located in various locations.
A government of Ontario 364-day T-bills with a face value of $50 000 were purchased on January ... A government of Ontario 364-day T-bills with a face value of $50 000 were purchased on January ...
After 159 days,she paid a maturity value of $11,626, which included interest of $814. After 159 days,she paid a maturity value of $11,626, which included interest of $814.
Video: Supine Position

For a complete list of videos, visit our video library