In the current year C purchased new office equipment costing $25,000. Later in the same year...
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.
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In the current year C purchased new office equipment costing
$25,000. Later in the same year...
CANADIAN TAXATION 2019 In the current year C purchased new office equipment costing $25,000. Later in...
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 purchased new office equipment costing $25.000. Later in the same year he...
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 B purchased new office equipment costing $40,000 and received a trade allowance...
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.
In the current year B purchased new office equipment costing $30.000 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 H Ltd., an HST registrant, disposed of a passenger vehicle (cost $39,000;...
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:...
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...
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. $
On July 1 of the current year F purchased a franchise and commenced operating a new...
On July 1 of the current year F purchased a franchise and commenced operating a new business as a sole proprietor. The franchise cost $100,000 and has a 10-year term. What is the maximum CCA deduction that F can claim in the current year?
In the current year N purchased equipment to be used in its manufacturing and processing operations...
In the current year N purchased equipment to be used in its manufacturing and processing operations for $400,000 plus GST. N has been in the manufacturing business for a number of years and has annual sales in excess of 10,000,000. What is the maximum CCA deduction for the current year, assuming the new manufacturing equipment is the only asset in the Class?
J Ltd.’s office building was destroyed by fire in the current year. Building’s original cost was...
J Ltd.’s office building was destroyed by fire in the current year. Building’s original cost was $200,000 and the class 1 UCC balance at the beginning of the year was $170,000. The building was insured for its market value of $250,000. A new building costing $290,000 was constructed 18 months after the fire. What is the minimum recapture of CCA for tax purposes in the current year?
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 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 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 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 N purchased equipment to be used in its manufacturing and processing operations for $400,000 plus GST. N has been in the manufacturing business for a number of years and has annual sales in excess of 10,000,000. What is the maximum CCA deduction for the current year, assuming the new manufacturing equipment is the only asset in the Class?
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