Calculate taxable business income and explain adjustments

Assignment Help Accounting Basics

Reference no: EM133927148

Problem

Business Income Reconciliation: Accounting profit: $20,000. Add: $3,000 advance payment received (ITA 12). Disallow: $800 personal expense (ITA 18). Allow: $2,000 CCA deduction (ITA 20). Get the instant assignment help. Calculate taxable business income and explain adjustments.

Reference no: EM133927148

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