Question: amshika used her own automobile, which she purchased many years ago for some of the travel. In 2023, she drove 32,000 kilometres, with 16,000 of

amshika used her own automobile, which she purchased many years ago for some of the travel. In 2023, she drove 32,000 kilometres, with 16,000 of these related to her travel for GGI and the remaining 16,000 for personal use. Operating expenses for the year totalled $3,200. GGI has advised her that CCA on the automobile for the year (100% basis) would be $4,500. Ramshika received no allowance for the use of her automobile. What is CCA? CCA is the automobile expense?

Step by Step Solution

★★★★★

3.37 Rating (153 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

CCA Explained CCA stands for Capital Cost Allowance Its a noncash expense that businesses can deduct ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

A 90-N force is applied to the control rod AB as shown. Knowing that the length of the rod is 225 mm, determine the moment of the force about point B by resolving the force into components along AB...

A net external force is applied to a 6.00-kg object that is initially at rest. The net force component along the displacement of the object varies with the magnitude of the displacement as shown in...

A sinusoidally varying driving force is applied to a damped harmonic oscillator of force constant k and mass m. If the damping constant has a value bl> the amplitude is A, when the driving angular...

silve question using canadian taxation rules and including things like basic personal amount and behicle usage AP 4-8 (Comprehensive Federal Income Tax Payable) Ezra Pinnock is 73 years old and is an...

Using Excel, submit the following: i. Calculate Rashmika's minimum net income for tax purposes in accordance with the ordering provisions found in section 3 of the Income Tax Act, and her minimum...

INCOME TAX Rashmika has requested your assistance in preparing her 2023 income tax return and your advice on certain other tax matters. Information regarding Rashmika's financial activities for 2023...

Rashmika has requested your assistance in preparing her 2023 income tax return and your advice on certain other tax matters. Information regarding Rashmika's financial activities for 2023 is outlined...

Ezra Pinnock is 7 3 years old and is an engineering professor at a major Canadian university. He is in good health and lives in Toronto in a large house he inherited from his mother. Employment...

For 2 0 2 3 , calculate Ezra's minimum: 1 . net income, 2 . taxable income, 3 . federal income tax payable. In determining these amounts, ignore GST / HST \ & PST consideration AP 4 - 8 (...

Ezra Pinnock is 73 years old and is an engineering professor at a major Canadian university. He is in good health and lives in Toronto in a large house he inherited from his mother. Employment...

Depletion ComputationsMinerals At the beginning of 2010, Callaway Company acquired a mine for $850,000. Of this amount, $100,000 was ascribed to the land value and the remaining portion to the...

D has three assets which make up the vast majority of Ds estate: (i) Ds house (real estate) valued at $18,000,000, with an adjusted basis of $1,000,000, (ii) an operating business valued at...

list two types of designation which allow a person to be exempt from and adjusters

A utility hook was formed from a 1-in-diameter round rod into the geometry shown in the figure. What are the stresses at the inner and outer surfaces at section A-A if the load F is 1000 lbf? in 10...

The telescopes on some commercial surveillance satellites can resolve objects on the ground as small as 85 cm across (see Google Earth), and the telescopes on military surveillance satellites...

Entopic halos if someone looks at a bright outdoor lamp in otherwise dark surroundings, the lamp appears to be surrounded by bright and dark rings (hence halos) that are actually a circular...

The wings of tiger beetles (Figure) are colored by interference due to thin cuticle-like layers. In addition, these layers are arranged in patches that are 60m across and produce different colors....

(a) Find the excitation energy from the ground level to the third excited level for an electron confined to a box that has a width of 0.125 nm. (b) The electron makes a transition from the n = 1 to n...

AU - C 2 4 0 ( formerly SAS No . 9 9 ) requires that an auditor perform three additional procedures to deal with the risk of management override of internal controls. Which of the following is one of...

The mobile crane has weight W 1 and center of gravity at G 1 ; the boom has weight W2 and center of gravity at G 2 . If the suspended load has weight W determine the normal reactions at the tracks A...

The polar moment of inertia for the area is Jcc about the z' axis passing through the centroid C. If the moment of inertia about the y' axis is Iy' and the moment of inertia about the x axis is Ix....

Assuming that the variation of pressure at the bottom of the pivot bearing is defined as p = p0(R2/r), determine the torque M needed to overcome friction if the shaft is subjected to an axial force...

Super Sales Company is the exclusive distributor for a high-quality knapsack. The product sells for $60 per unit and has a CM ratio of 40%. The companys fixed expenses are $360,000 per year. The...

Answer Problem P29.3 assuming that shaved dice are used so that the number 6 appears twice as often as any other number. In Problem 29.3 a. We are interested in the outcome where the sum of two dice...

Where do we go from here?