MGAC50H3 Chapter Notes - Chapter 5: Accounting Software, Office Supplies, Net Income
Document Summary
Ucc, dec. 31/14 before adjustment $ 216,000. 3/4 ece (legal fees)(5) $ 25,875. Notes to solution (1) capital gain on building of ,000 (i. e. , ,000 - ,000); recapture of ,000. (2) (,000 + ,000 ,950) (3) 2012: lesser of (a) (b) ** remaining days from april 22, 2012 (excluding leap year effects) of five-year licences. *** class 14 is not affected by the half-net-amount rule [regulation 1100(2)(a)]. (5) legal fees pertaining to the capital structure of the firm would be treated like incorporation costs as eligible capital expenditures. Solution 16: schedule 1 reconciliation and cca schedule. Net income after income taxes $ 440,000. Reserve for future decline in the value of inventory Increase in the reserve for warranty expenses Golf club membership dues for the vice-president of sales Meals and entertainment at golf club (50% ,000) Accrued bonus not paid until june 30, 2015 Legal fees in connection with purchase of shares Accounting software update for payroll tax information
