Green Co. and Blue Co. are equal partners in Turquoise Paint. Turquoise Paint had a net income for tax purposes this year of $300,000, before deducting capital cost allowance.
Green Co. is a CCPC owned by Bob Green. Green Co.'s net income for tax purposes is $200,000. Blue Co. is a CCPC owned by Sally Blue. Blue Co. has suffered net losses the past two years. This year Blue Co. had a loss of $150,000, and the company has non-capital losses of $200,000 from previous years
The capital cost allowance for Turquoise Paint this year is $72,000.
Required:

Question

Green Co. and Blue Co. are equal partners in Turquoise Paint. Turquoise Paint had a net income for tax purposes this year of $300,000, before deducting capital cost allowance.
Green Co. is a CCPC owned by Bob Green. Green Co.'s net income for tax purposes is $200,000. Blue Co. is a CCPC owned by Sally Blue. Blue Co. has suffered net losses the past two years. This year Blue Co. had a loss of $150,000, and the company has non-capital losses of $200,000 from previous years
The capital cost allowance for Turquoise Paint this year is $72,000. 
Required:

Quizplus · Accepted Answer

The Answer of Green Co. and Blue Co. are equal partners in Turquoise Paint. Turquoise Paint had a net income for tax purposes this year of $300,000, before deducting capital cost allowance.
Green Co. is a CCPC owned by Bob Green. Green Co.'s net income for tax purposes is $200,000. Blue Co. is a CCPC owned by Sally Blue. Blue Co. has suffered net losses the past two years. This year Blue Co. had a loss of $150,000, and the company has non-capital losses of $200,000 from previous years
The capital cost allowance for Turquoise Paint this year is $72,000. 
Required:

Green Co and Blue Co