Landis Ltd. began its corporate services business in 2010. Since then, it has acquired and disposed...
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Landis Ltd. began its corporate services business in 2010. Since then, it has acquired and disposed of various assets which are all in Class 8, and every year, the company has taken deductions under 20(1)(a) as permitted by law. Assume that Landis' 2020 opening UCC for its Class 8 assets was $160,000, and that in 2020, Landis acquired some new Class 8 assets, which cost $100,000 and also disposed of certain Class 8 assets, which had originally cost S100,000, for a price of $50,000. What is the maximum CCA claim for Landis in 2020? Question 3 Redo question 2 above, but assume instead that the acquisitions in 2020 were $50,000, and the disposals of the equipment with an original cost of $100,000 was at a price of: (i) S100,000 and (ii) $200,000 Landis Ltd. began its corporate services business in 2010. Since then, it has acquired and disposed of various assets which are all in Class 8, and every year, the company has taken deductions under 20(1)(a) as permitted by law. Assume that Landis' 2020 opening UCC for its Class 8 assets was $160,000, and that in 2020, Landis acquired some new Class 8 assets, which cost $100,000 and also disposed of certain Class 8 assets, which had originally cost S100,000, for a price of $50,000. What is the maximum CCA claim for Landis in 2020? Question 3 Redo question 2 above, but assume instead that the acquisitions in 2020 were $50,000, and the disposals of the equipment with an original cost of $100,000 was at a price of: (i) S100,000 and (ii) $200,000
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a Calculation Taxable Amount Opening class e Acset 160000 acquired New Class 8 Assets I 00 000 26... View the full answer
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
Posted Date:
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