Blossom Limited reports the following information in its tax files covering the eight-year period from 2021...
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Blossom Limited reports the following information in its tax files covering the eight-year period from 2021 to 2028. All assets are Class 10 with a 30% maximum CCA and are eligible for the Accelerated Investment Incentive. No capital assets had been acquired before 2021. 2021 2022 2023 2024 2025 to 2027 2028 Purchased assets A and B for $21,620 and $8,480, respectively Sold asset B for $7,480; bought asset C for $4,880 Purchased asset D for $5,180 Purchased asset E for $5,180 No purchases or disposals Purchased asset F for $5,180 Prepare a capital cost allowance schedule for Class 10 assets covering the 2021 to 2028 period, (Round answers to 0 decimal places, e.g. 5,275. Do not leave any answers field blank. Enter O for amounts.) UCC, 01/01/2021 Additions during 2021: Disposals during 2021: CCA, 2021 UCC, 12/31/2021 UCC, 01/01/2022 Additions during 2022: LA 69 LA Additions during 2022: Disposals during 2022: UCC, before CCA CCA, 2022 UCC, 12/31/2022 UCC, 01/01/2023 Additions during 2023: GA Additions during 2023: Disposals during 2023: CCA, 2023 on additions CCA, 2023 on opening balance of UCC UCC, 12/31/2023 UCC, 01/01/2024 Additions during 2024 $ LA $ +A Additions during 2024: Disposals during 2024: CCA, 2024 UCC, 12/31/2024 UCC, 01/01/2025 Additions during 2025: Disposals during 2025: CCA, 2025 tA UCC, 12/31/2025 UCC, 01/01/2026 Additions during 2026: Disposals during 2026: CCA, 2026 UCC, 12/31/2026 UCC, 01/01/2027 +A +A 69 UCC, 01/01/2027 Additions during 2027: Disposals during 2027: CCA, 2027 UCC, 12/31/2027 UCC, 01/01/2028 Additions during 2028: Diamanale din 2020.. to 69 SA Disposals during 2028: CCA, 2028 on additions CCA, 2028 on opening balance of UCC UCC, 12/31/2028 Blossom Limited reports the following information in its tax files covering the eight-year period from 2021 to 2028. All assets are Class 10 with a 30% maximum CCA and are eligible for the Accelerated Investment Incentive. No capital assets had been acquired before 2021. 2021 2022 2023 2024 2025 to 2027 2028 Purchased assets A and B for $21,620 and $8,480, respectively Sold asset B for $7,480; bought asset C for $4,880 Purchased asset D for $5,180 Purchased asset E for $5,180 No purchases or disposals Purchased asset F for $5,180 Prepare a capital cost allowance schedule for Class 10 assets covering the 2021 to 2028 period, (Round answers to 0 decimal places, e.g. 5,275. Do not leave any answers field blank. Enter O for amounts.) UCC, 01/01/2021 Additions during 2021: Disposals during 2021: CCA, 2021 UCC, 12/31/2021 UCC, 01/01/2022 Additions during 2022: LA 69 LA Additions during 2022: Disposals during 2022: UCC, before CCA CCA, 2022 UCC, 12/31/2022 UCC, 01/01/2023 Additions during 2023: GA Additions during 2023: Disposals during 2023: CCA, 2023 on additions CCA, 2023 on opening balance of UCC UCC, 12/31/2023 UCC, 01/01/2024 Additions during 2024 $ LA $ +A Additions during 2024: Disposals during 2024: CCA, 2024 UCC, 12/31/2024 UCC, 01/01/2025 Additions during 2025: Disposals during 2025: CCA, 2025 tA UCC, 12/31/2025 UCC, 01/01/2026 Additions during 2026: Disposals during 2026: CCA, 2026 UCC, 12/31/2026 UCC, 01/01/2027 +A +A 69 UCC, 01/01/2027 Additions during 2027: Disposals during 2027: CCA, 2027 UCC, 12/31/2027 UCC, 01/01/2028 Additions during 2028: Diamanale din 2020.. to 69 SA Disposals during 2028: CCA, 2028 on additions CCA, 2028 on opening balance of UCC UCC, 12/31/2028
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Blossom Limited Capital Cost Allowance Schedule for Class 10 Assets 20212028 Year UCC Beginning of Y... View the full answer
Related Book For
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
Posted Date:
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