Maritime Breweries Limited reported the following results for 2010. Earnings before income taxes................................$5,025,000 Depreciation expense.........................................$1,250,000 UCC-Buildings, Jan.
Question:
Earnings before income taxes................................$5,025,000
Depreciation expense.........................................$1,250,000
UCC-Buildings, Jan. 1, 2010 ..............................$ 3,000,000
CCA rate-Buildings.........................................4%
UCC-Machines, Jan. 1, 2010 ..............................$5,600,000
CCA rate-Machines........................................20%
UCC-Vehicles, Jan. 1, 2010 ...............................$ 800,000
CCA rate-Vehicles ..........................................30%
Required:
(a) Calculate taxable income for 2010.
(b) Calculate taxes payable for 2010, assuming a corporate tax rate of 35%.
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a Earnings before income taxes 5025000 Add back depreciatio...View the full answer
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Related Book For 
Financial Management for Decision Makers
ISBN: 978-0138011604
2nd Canadian edition
Authors: Peter Atrill, Paul Hurley
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