Steven Co. is a public Canadian corporation which was established five years ago. The company's head office is located in Saskatchewan. In 2018, a small branch was established in Manitoba.
In 2019, the company's books included the following:
Required:
A) Calculate the company's net income for tax purposes for 2019.
B) Calculate the company's taxable income, both federal and provincial. (Round all amounts to two decimal places.)
C) Calculate Steven Co.'s Part I federal tax liability. (Round all numbers to zero decimal points.) (Use tax rates and amounts applicable for 2019 for each of the above.)

Question

Steven Co. is a public Canadian corporation which was established five years ago. The company's head office is located in Saskatchewan. In 2018, a small branch was established in Manitoba.
In 2019, the company's books included the following:
  Required:
A) Calculate the company's net income for tax purposes for 2019. 
B) Calculate the company's taxable income, both federal and provincial. (Round all amounts to two decimal places.) 
C) Calculate Steven Co.'s Part I federal tax liability. (Round all numbers to zero decimal points.) (Use tax rates and amounts applicable for 2019 for each of the above.)

Quizplus · Accepted Answer

The Answer is A) Net income for tax purposes:

B) Federal taxable income: A) Net income for tax purposes: B) Federal taxable income: Provincial taxable income: Saskatchewan: C) Part I federal tax:

Provincial taxable income: Saskatchewan: C) Part I federal tax: A) Net income for tax purposes: B) Federal taxable income: Provincial taxable income: Saskatchewan: C) Part I federal tax:

Steven Co Is a Public Canadian Corporation Which Was Established Five