JJJ Co, a public company gives the following accounting information for this year Transaction Proceeds of sale Purchase cost Qualified QSBC share sale 200,000 100,000 Scotia bank share sale 10,000 20,000 LPP painting sales 11,000 300 PUP furniture sale 3,000 5,000 Capital gains deduction for the QS...

Transaction Proceeds of sale Purchase cost Qualif ...

JJJ Co, a public company gives the following accounting information for this year: Transaction Proceeds of sale

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JJJ Co, a public company gives the following accounting information for this year:

Transaction	Proceeds of sale	Purchase cost
Qualified QSBC share sale	200,000	100,000
Scotia bank share sale	10,000	20,000
LPP painting sales	11,000	300
PUP furniture sale	3,000	5,000

Capital gains deduction for the QSBC share sale (determined to the final allowed amount for this year) is $20,000.

The net taxable capital gain for section 3C, tax purpose is?

Related Book For answer-question

Fundamental financial accounting concepts

ISBN: 978-0078025365

8th edition

Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward

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Posted Date: Apr 19, 2022 06:14 AM

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JJJ Co, a public company gives the following accounting information for this year: Transaction Proceeds of sale

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Fundamental financial accounting concepts

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