Kool Drinks Corporation purchased $300,000 worth of bottling machinery in 2019. Machinery falls under asset class 43
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Kool Drinks Corporation purchased $300,000 worth of bottling machinery in 2019. Machinery falls under asset class 43 with a CCA rate of 30%. In 2021, Kool Drinks sold their machinery for $150,000 and moved their production to Mexico. Was there a capital gain, a CCA recapture or a terminal loss? What if the machinery was sold for $75,000?
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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