Lee Enterprises has a fiscal year-end of October 31. You are preparing the current years T2 tax
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Question:
Lee Enterprises has a fiscal year-end of October 31. You are preparing the current year’s T2 tax return. Carryforward information (from the prior year tax return) indicates the following balances in the Undepreciated Capital Cost (UCC):
Class 1 – 6% (Non-residential building) = $235,758
Class 8 – 20% (Furniture & General Equipment) = $38,547
Class 10 - 30% (Motor Vehicles) = $52,325
Assuming there are no additions or dispositions during the current year, calculate the CCA deduction for Lee Enterprises for the current year.
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
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