DF: ACCOUNTING PRINC 14E WPNGEC 1 SEM
14th Edition
ISBN: 9781119709947
Author: Weygandt
Publisher: WILEY
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Record any five accounting transactions of your own choice for Ali furniture business (AFB) for the year 2019, Starting from the owner investment of $100,000. Post them in General journal, make ledger, and Trial balance for those entries.
Record any five accounting transactions of your own choice for Ali furniture business (AFB) for the year 2019, Starting from the owner investment of $100,000. Post them in General journal, make ledger, and Trial balance for those entries. with explanation.
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You are provided with the following amounts for Diane Welsey for the current year:
View the amounts.
Based on the amounts, what is the net income reported by Diane Welsey pursuant to ITA 3 for the current year?
A. $49,660
OB. $65,460
OC. $57,560
OD. $51,560
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Amounts
Net employment income (ITA 5 to 8)
Interest income (ITA 12)
Taxable amount of dividends
Taxable capital gains (ITA 38 to 55)
Allowable capital losses (ITA 38 to 55)
RRSP deduction (allowed pursuant to ITA 60)
$ 54,000
8,700
1,460
6,000
7,900
12,600
$
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