Capital Hill Ltd. has disposed of the following capital assets during 2016: 1 Ignore section 44 considerations.
Question:
Capital Hill Ltd. has disposed of the following capital assets during 2016:
1Ignore section 44 considerations.
2Only asset in class.
REQUIRED
Indicate the adjustments to be made in the reconciliation of accounting income to tax purposes.
Transcribed Image Text:
Securities Land Building ¹ Equipment 2 Proceeds disposition $ 500 $2,500 76,250 500 Cost $5,000 30,000 20,000 10,000 Book value n/a n/a $ 3,000 1,000 Undepreciated capital cost n/a n/a $4,500 1,500
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Related Book For
Introduction To Federal Income Taxation In Canada 2016-2017
ISBN: 9781554968725
37th Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
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