A corporation, with a December 31, 2021 year-end, purchased manufacturing equipment for $60,000 on January 1 and a delivery truck for 55,000 on June 30. It sold on June 30, an old delivery truck that originally cost $15,000, for $4,500. The other relevant information is: Asset Cost undepreciated capital cost (UCC) Building $ 100,000 $ 98,500 Furniture 25,000 22,500 Automotive Equipment 90,000 76,500 What is the maximum CCA the corporation would claim in its 2021 taxation year?
A corporation, with a December 31, 2021 year-end, purchased manufacturing equipment for $60,000 on January 1 and a delivery truck for 55,000 on June 30. It sold on June 30, an old delivery truck that originally cost $15,000, for $4,500. The other relevant information is: Asset Cost undepreciated capital cost (UCC) Building $ 100,000 $ 98,500 Furniture 25,000 22,500 Automotive Equipment 90,000 76,500 What is the maximum CCA the corporation would claim in its 2021 taxation year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A corporation, with a December 31, 2021 year-end, purchased manufacturing equipment for $60,000 on January 1 and a delivery truck for 55,000 on June 30. It sold on June 30, an old delivery truck that originally cost $15,000, for $4,500. The other relevant information is:
Asset Cost undepreciated capital cost (UCC)
Building $ 100,000 $ 98,500
Furniture 25,000 22,500
Automotive Equipment 90,000 76,500
What is the maximum CCA the corporation would claim in its 2021 taxation year?
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