East Coast Music acquired (purchased) equipment at a cost of $200,000 (Class 8-20%). The UCC at the

Fantastic news! We've Found the answer you've been seeking!

Question:

East Coast Music acquired (purchased) equipment at a cost of $200,000 (Class 8-20%). The UCC at the beginning of the year was $140,000. The maximum CCA deduction on class for 2021 is:

A. $88,000

B. $48,000

C. $68,000

D. $40,000

E. Some other number

ABC Inc. at the beginning of 2021, had an opening UCC balance in Class 10 (CCA Rate 30%) in the amount of $310,000. There were no additions or disposals in 2021. The maximum CCA that can be claimed for Class 10 in 2021 will be:

A. $93,000

B. $46,500

C. $139,500

D. $62,000

E. Some other number

A business acquires (purchases) a rental property (Class 1-4%) several years ago for a total cost of $562,000. The capital cost was allocated $112,000 for the land and $450,000 for the building. At the beginning of 2021, the UCC for the building is $374,561. In 2021, the property is sold for $843,000, with $262.000 of this amount being allocated to the land and $581,000 to the Iding. Which of the following statements is correct?

A. The business will have recapture of $75,439

B. The business will have a terminal loss of $187,439

C. The business will have recapture of 187,439

D. The business will have a terminal loss of $75,439