At the start of the current year, a Company has two Class 8 assets. Each asset cost $26,000 and the UCC balance in the Class was $23,000. On June 30 one of the assets was sold for $28,000. There are no other additions or dispositions for the remainder of the Company's fiscal year that ends December 31. 

What amount does this Company report as a Recapture of CCA for the current year?

 

 

Answer rating: 100% (QA)

To calculate the recapture of CCA Capital Cost Allowance for the current year due to the sale of one ... View the full answer