Question 3D) On July 14, 2019, the Waterloo fire department was summoned to a building on...
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Question 3D) On July 14, 2019, the Waterloo fire department was summoned to a building on Sparks Lane, owned by Jumoke Dewormu. An orange glow lit the night sky as hungry flames devoured the building before it could be saved. The building was insured for replacement value of $877,515. The ca tal costas $616,532, and CCA of $71,088 had been claimed Jumoke has a business year-end of December 31 Please answer the following questions, assuming Jumoke defers as much incon as she possibly can 1. What is the opening c/c and UCC of the replacement building if it i cquired February 2, 2020 for a cost of $648,7447 c/c UCC (1 mark) (1 mark) 2. What is the opening c/c and UCC of the replacement building if it is acquired February 2, 2022 for a cost of $618,483? c/c UCC (1 mark) (1 mark) Question 3D) On July 14, 2019, the Waterloo fire department was summoned to a building on Sparks Lane, owned by Jumoke Dewormu. An orange glow lit the night sky as hungry flames devoured the building before it could be saved. The building was insured for replacement value of $877,515. The ca tal costas $616,532, and CCA of $71,088 had been claimed Jumoke has a business year-end of December 31 Please answer the following questions, assuming Jumoke defers as much incon as she possibly can 1. What is the opening c/c and UCC of the replacement building if it i cquired February 2, 2020 for a cost of $648,7447 c/c UCC (1 mark) (1 mark) 2. What is the opening c/c and UCC of the replacement building if it is acquired February 2, 2022 for a cost of $618,483? c/c UCC (1 mark) (1 mark)
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Answer rating: 100% (QA)
Answer 1If the given cost is 648744 than cc 616532 UCC 32212 Th... View the full answer
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Posted Date:
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