In the current year B purchased new office equipment costing
$40,000 and received a trade allowance of $3,000 for her old
equipment. The old equipment was acquired 6 years ago for $19,000.
B’s class 8 UCC balance the beginning of the current year was
$12,000. What is the maximum CCA deduction for class 8 that B can
claim in the current year?
Note: Do not place a minus sign in front of the
amount.
the Maximum CCA for class B is $3600
In the current year B purchased new office equipment costing $40,000 and received a trade allowance...
In the current year B purchased new office equipment costing $30.000 and received a trade allowance of $2,000 for her old equipment. The old equipment was acquired 6 years ago for $18,000. B's Class 8 UCC balance the beginning of the current year was $10,000. What is the maximum CCA deduction for Class 8 that B can claim in the current year? Note: Do not place a minus sign in front of the amount.
In the current year purchased new office equipment costing $25.000. Later in the same year he sold some office equipment for $35.000 that originally cost $100,000. At the beginning of the current year the UCC of the office equipment class was $70,000. What is the maximum CCA deduction for the office equipment class that can claim in the current year? Note: Do not place a minus sign in front of the amount.
In the current year C purchased new office equipment costing $25,000. Later in the same year he sold some office equipment for $35,000 that originally cost $100,000. At the beginning of the current year the UCC of the office equipment class was $70,000. What is the maximum CCA deduction for the office equipment class that C can claim in the current year? Note: Do not place a minus sign in front of the amount.
CANADIAN TAXATION 2019 In the current year C purchased new office equipment costing $25,000. Later in the same year he sold some office equipment for $35,000 that originally cost $100,000. At the beginning of the current year the UCC of the office equipment class was $70,000. What is the maximum CCA deduction for the office equipment class that C can claim in the current year? Note: Do not place a minus sign in front of the amount. In the current...
In the current year H Ltd., an HST registrant, disposed of a passenger vehicle (cost $39,000; UCC $26,000) for $20,000. At the same time H purchased a new passenger vehicle for $48,000 plus HST. What is the maximum CCA deduction that H can claim in the current year? Note: Do not place a minus sign in front of the amount. $
In the current year H Ltd., an HST registrant, disposed of a passenger vehicle (cost $39.000: UCC $26.000) for $20,000. At the same time H purchased a new passenger vehicle for $48.000 plus HST. What is the maximum CCA deduction that H can claim in the current year? Note: Do not place a minus sign in front of the amount.
On March 1 of the current year G, who operates a wholesale business, leased a new warehouse space and immediately spent $130,000 improving the interior of the building. The lease contract is for 3 years with an option to renew the lease for two additional 2-year terms. What is the maximum CCA deduction that G can claim in the current year? Note: Do not place a minus sign in front of the amount. $
a. Your firm purchased equipment costing $300,000 1 year ago. The firm also incurred shipping costs of $18,000 and installation costs of $2,000. The IRS allows this category of equipment to be depreciated over 4 years. The equipment is expected to sell for $40,000 today. What is the book value of the asset at the time of the sale? b. An asset was purchased for $300,000 originally. Each year for the past 8 year, depreciation has been recorded which results...
1. Your firm purchased equipment costing $600,000 1 year ago. The firm also incurred shipping costs of $18,000 and installation costs of $2,000. The IRS allows this category of equipment to be depreciated over 4 years. The equipment is expected to sell for $40,000 today. What is the book value of the asset at the time of the sale? 2. A piece of equipment was originally purchased 5 years ago for $400,000 and is now being sold for $320,000. Yearly...
2. The sheiving Was sond During the current year, Ramirez Developers disposed of plant assets in the following transactios LEM 9.4A sal of Plant Office equipment costing $26,000 was given to a scrap dealer at no charge. At the date of disposal, accumulated depreciation on the office equipment amounted to $25,800 Feb. 10 Ramirez sold land and a building to Claypool Associates for $900,000, receiving $100,000 cash and a five-year, 9 percent note receivable for the remaining balance. Ramirez's records...