QUESTION 10 Amazine Inc. purchased Class 8 furniture for $4,000 in 2021. In 2023, this furniture was sold for $1,000. Class 8 UCC was $10,300 at the beginning of 2023 and no Class 8 property was purchased during the year. What is the UCC of this class at the end of 2023? $7,440 $9,300 $1,860 $8,240

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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QUESTION 10
Amazine Inc. purchased Class 8 furniture for $4,000 in 2021. In 2023, this furniture was sold for $1,000. Class 8 UCC was $10,300 at the beginning of 2023 and no Class 8
property was purchased during the year. What is the UCC of this class at the end of 2023?
$7,440
$9,300
$1,860
$8,240
Transcribed Image Text:QUESTION 10 Amazine Inc. purchased Class 8 furniture for $4,000 in 2021. In 2023, this furniture was sold for $1,000. Class 8 UCC was $10,300 at the beginning of 2023 and no Class 8 property was purchased during the year. What is the UCC of this class at the end of 2023? $7,440 $9,300 $1,860 $8,240
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