(14 – 12)2+ (1 + 3)2

Distribute.4(4x + 3y + 3)

Solve the problem.A high school graduating class is made up of 500 students. There are 132 more girls than boys. How many boys are in the class?

Combine like terms.7q – 6 – 2p + 9q – 3p

Subtract.68,551 – 8140

On April 1, 2025, Delgado Inc. loans $84,000 to its principal shareholder, Matthew Delgado, in order to finance personal expenditures. Delgado Inc. has a June 30 taxation year end. The loan is interest-free. Assume that throughout the time that the loan is outstanding the relevant prescribed interest rate is 5%. Determine the income tax consequences to Matthew if the loan is repaid on January​ 1,2026

Ms. Koh sells a non-depreciable capital property with an FMV of $102,000 and an ACB of $44,700 to Koh Inc. In consideration, she receives P-note of $44,700 and shares with an FMV of $57,300 for a total of $102,000. The ITA 85(1) elected amount is $44,700. Which of these statements is correct?

Leo Tintendo sold machinery to a corporation in which he is the controlling shareholder. He elected to use ITA 85(1). The FMV of the equipment is $20,500, and its UCC is $15,400. The elected amount is $15,400. As consideration, Leo received a $15,370 promissory note and 2,565 preferred shares with a redemption amount of $2 each. What is the ACB of the preferred share consideration?

In the following three independent cases a joint election is filed under ITA 85(1). Case OneDepreciable property with a capital cost of $135,000, a UCC balance of $74,200, and FMV of $210,500 is sold to a corporation for consideration that consists of a promissory note of $155,000, preferred shares redeemable for $28,000, and common shares with a FMV of $27,500. The depreciable property is the only property in the class. Case TwoLand with a tax cost of $717,000 and FMV of $923,000 is sold to a corporation for consideration that consists of a promissory note for $103,000 and preferred shares that are redeemable for $720,000 and common shares that are redeemable for $100,000. The inventory is not real property (land and buildings). A. The range of acceptable elected amounts. B. Assuming that the minimum elected amount determined in Part A is chosen, determine the additional income that will be included in the income of the seller. C. Again assuming that the minimum elected amount under Part A is chosen, determine the ACB of all consideration and the PUC of the share consideration.  Answer Skeleton:  Case 1 & Case 2 A) Range of Elected amounts = ? Floor  = ? Ceiling = ? B)  Assume minimum elected Capital gain? IF YES Below (IF NO LEAVE BLANK) POD =? ACB =? CG / Business income =? Inclusion =? TCG =? C) Minimum elected amount Determine ACB of all Consideration PUC of Share consideration ACB Consideration  Elected Amount =? LESS  FMV  of NSC =? ACB of Preferred Shares  =? PUC Reduction  Increase in legal capital =? LESS  Elected Amount  =? Over the FMV of NSC =? PUC Reduction  = ? PUC of Preferred Shares =? PUC of Common Shares =?

If you do not elect out of S.73(1) the original spouse or the “Transferor” will have the dividends be attributed back to him/her if applicable.