Jake owns Corvus Inc., a CCPC incorporated in Ontario in 2010. In 2020 Jake withdrew a salary
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Question:
Jake owns Corvus Inc., a CCPC incorporated in Ontario in 2010. In 2020 Jake withdrew a salary of $55,000 less $2,600 in CPP, borrowed $10,000, paid "other-than eligible dividends" of$8,000. What is Jake's total income from Corvus Inc. for 2020?
A. $60,400
B. $76.200
C. $86,200
D. $61,600
Related Book For
Financial Accounting
ISBN: 978-0077862268
2nd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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