In the current year B purchased new office equipment costing $30,000 and received a trade allowance...

 

 

Transcribed Image Text:

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. $ LA Exercise 06-14 P incurred incorporation costs of $8,000 to incorporate a new corporation, effective January 1 of the current year, and chose December 31 as its first year end. What is the maximum amount that can be deducted in computing income for the current year? Note: Do not place a minus sign in front of the amount. tA Exercise 06-05 On July 1 of the current year F purchased a franchise and commenced operating a new business as a sole proprietor. The franchise cost $80,000 and has a 20-year term. What is the maximum CCA deduction that F can claim in the current year? Note: Do not place a minus sign in front of the amount. tA 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. $ LA Exercise 06-14 P incurred incorporation costs of $8,000 to incorporate a new corporation, effective January 1 of the current year, and chose December 31 as its first year end. What is the maximum amount that can be deducted in computing income for the current year? Note: Do not place a minus sign in front of the amount. tA Exercise 06-05 On July 1 of the current year F purchased a franchise and commenced operating a new business as a sole proprietor. The franchise cost $80,000 and has a 20-year term. What is the maximum CCA deduction that F can claim in the current year? Note: Do not place a minus sign in front of the amount. tA

Answer rating: 100% (QA)

a UCC at the beginning 10000 Purchased equipment 30000 Total 40000 Percentage for Class 8 is 20 Calc... View the full answer