A sole proprietor has a business with the following assets: UCC at beg of year asset Land Office building 30-year franchise* Computer equipment * 21 years remain A 33,900 B 24,900 C 29,300 original cost The following transactions occurred during the year: Purchased additional computer equipment for $17,000. Sold some of the computer equipment for $11,500. 80,000 350,000 205,000 90,000 70,000 38,000 7,500 What is the maximum CCA deduction for the current year? (rounde he nearest 100) D 23,300 E None of these

A sole proprietor has a business with the following assets: UCC at beg of year asset Land Office building 30-year franchise* Computer equipment * 21 years remain A 33,900 B 24,900 C 29,300 original cost The following transactions occurred during the year: Purchased additional computer equipment for $17,000. Sold some of the computer equipment for $11,500. 80,000 350,000 205,000 90,000 70,000 38,000 7,500 What is the maximum CCA deduction for the current year? (rounde he nearest 100) D 23,300 E None of these

Name: A sole proprietor has a business with the following assets:UCC atbeg
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Description: A sole proprietor has a business with the following assets:UCC atbeg ofyearassetLandOffice building30-year franchise*Computer equipment* 21 years remainoriginalcost80,000350,000 205,00090,00070,00038,000 7,500The following transactions occurred duri

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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