Question: PLEASE ANSWER QUICKLY WITH SOLUTION. THANK YOU PLEASE USE THIS FORMAT FOR THE ANSWER. THANKS Run-Lite Ltd., has the following information with respect to its

PLEASE ANSWER QUICKLY WITH SOLUTION. THANK YOU
PLEASE ANSWER QUICKLY WITH SOLUTION. THANK YOU PLEASE USE THIS FORMAT FOR
PLEASE USE THIS FORMAT FOR THE ANSWER. THANKS
THE ANSWER. THANKS Run-Lite Ltd., has the following information with respect to

Run-Lite Ltd., has the following information with respect to its depreciable property on January 1, 2023: During the 2023 taxation year, the following transactions occur: Class 820% : May 15 - Furniture with a capital cost of $30,000 was sold for $20,000. June 30 - New ergonomic desks with a cost of $70,000 were purchased. Class 10 - 30\%: Dec 20 - Run-Lite sold all the automobiles in this class for $65,000 as the company now plans to lease new vehicles in 2024. There are no assets remaining in this Class on Dec.31. Note: Assume that any depreciable property purchases meet the conditions to qualify for the Accll. Required (show all calculations): 1. For the 2023 taxation year calculate the maximum CCA that can be claimed by Run-Lite for each CCA class. 2. In addition, calculate the January 1, 2024, UcC balance for each class. 3. Indicate whether there are any other income tax consequences as a result of any of the transactions related to depreciable property in 2023. [Hint: please provide your answer in the following format with desctiption of the items and calculations under each section] - Enable the HTML Editor for inputting your

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