ebcam g information to answer the quuestions below. Tarantula Corp. reported the following information about the only machine that it owns: Date of purchase March 31, 2020 Capital cost Estimated useful life Estimated residual value CCA Class $200,000 10 years $20,000 Class 10 (30%) Tarantula uses straight-line depreciation to the nearest month for accounting purposes. Assume that at the end of calendar 2019, the UCC for this machine is $83,300. Tarantula sells the machine on January 2, 2020 for $90,000, and does not replace it The recapture of CCA or terminal loss would be O A) $56,000 recapture. B) $60,500 terminal loss. O C) $6,700 terminal loss.

ebcam g information to answer the quuestions below. Tarantula Corp. reported the following information about the only machine that it owns: Date of purchase March 31, 2020 Capital cost Estimated useful life Estimated residual value CCA Class $200,000 10 years $20,000 Class 10 (30%) Tarantula uses straight-line depreciation to the nearest month for accounting purposes. Assume that at the end of calendar 2019, the UCC for this machine is $83,300. Tarantula sells the machine on January 2, 2020 for $90,000, and does not replace it The recapture of CCA or terminal loss would be O A) $56,000 recapture. B) $60,500 terminal loss. O C) $6,700 terminal loss.

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Description: Swser + WNebcamthe following information to answer the questions below.Tarantula Corp, reported the following information about the only machine that itowns:Date of purchase March 31, 2020Capital costEstimated useful lifeEstimated residualvalue$200,

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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