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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Export Ltd. is a Canadian private company with a December 31 year end. The transactions
which follow involve Export Ltd.'s capital dividend account.
_ During 2006, the Company received a capital dividend of $23,000.
_ During 2009, the Company sold a depreciable capital asset with an adjusted cost base of $156,000 for
cash proceeds of $$199,000.
_ During 2011, the Company sold an unlimited life franchise for $150,000. The Company
had paid $125,000 for it in 2009 .
_ During 2012, the Company sold a depreciable capital asset with an adjusted cost
base of $120,000 for cash proceeds of $102,000.
_ During 2017, the Company paid an ITA 83(2) capital dividend of $10,400.
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Determine the balance in the capital dividend account at December 31, 2017
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