The following information applies to Wildhorse Corporation, which reports under IFRS.
Prior to taxable income and accounting income were identical.
Accounting income was $ million in and $ million in
On January equipment costing $ million was purchased. It is being depreciated on a straightline basis over eight years for financial reporting
purposes, and is a Class asset for tax purposes.
Taxexempt interest income of $ was received in
The tax rate is for all periods.
Taxable income is expected in all future years.
Wildhorse had common shares outstanding throughout
a
Calculate the amount of capital cost allowance and depreciation expense for and and the corresponding carrying amount and undepreciated capital
cost of the depreciable assets at the end of and
