Marin Inc. purchased computer equipment on March1,2020, for $68000. The computer equipment has a useful life of five year and a residual value of $800. Marin uses a double declining balance method of depreciation for this type of capital. For tax purpose, the computer is assigned to Class 10 with a 30% rate. prepare a schedule of CCA and undepreciated capital(UCC) for this asset covering 2020,2021,2022, assuming it is the only class 10 asset owned by Marin.
Marin Inc. purchased computer equipment on March1,2020, for $68000. The computer equipment has a useful life of five year and a residual value of $800. Marin uses a double declining balance method of depreciation for this type of capital. For tax purpose, the computer is assigned to Class 10 with a 30% rate. prepare a schedule of CCA and undepreciated capital(UCC) for this asset covering 2020,2021,2022, assuming it is the only class 10 asset owned by Marin.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Marin Inc. purchased computer equipment on March1,2020, for $68000. The computer equipment has a useful life of five year and a residual value of $800. Marin uses a double declining balance method of
prepare a schedule of CCA and undepreciated capital(UCC) for this asset covering 2020,2021,2022, assuming it is the only class 10 asset owned by Marin.
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