Grace operates a pet shop and at the same time offers interior design services to her...
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Grace operates a pet shop and at the same time offers interior design services to her clients. The following data were provided by Grace for 2021 taxable year: Pet Shop: Gross Sales- 1,800,000 Cost of Sales- 600,000 Operating Expenses- 200,000 Interior design services: Gross receipts- 1,150,000 Cost of direct services- 120,000 Operating Expenses- 80,000 How much is her income tax liability for the year? Grace operates a pet shop and at the same time offers interior design services to her clients. The following data were provided by Grace for 2021 taxable year: Pet Shop: Gross Sales- 1,800,000 Cost of Sales- 600,000 Operating Expenses- 200,000 Interior design services: Gross receipts- 1,150,000 Cost of direct services- 120,000 Operating Expenses- 80,000 How much is her income tax liability for the year?
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Related Book For
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
7th edition
Authors: Hilton Murray, Herauf Darrell
Posted Date:
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