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Currently Stuck on this question: ABC Company has an acquisition of control on April...

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Accounting

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ABC Company has an acquisition of control on April 1, 2019. The company has a business loss of $54,000 and the following values of the assets owned on March 31, 2019:

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Marketable securities Inventory Land Building Store fixtures and equipment Cost $11,000 50,000 550,000 95,000 35,000 UCC N/A N/A N/A $75,000 31,000 FMV $5,000 45,000 750,000 115,000 27,000 What amount of non-capital losses should ABC report for the deemed year ended? a. $70,000 b. $63,000 c. $67,000 d. $66,000 e. $57,000

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