3 4 5 11 D o The following information relates to Reta Co. for its taxation year that ends on December 31, 2021: 1. The Company has UCC balances on January 1, 2021 for its tangible assets as follows: Class 1(4). Note 2 $365,871 Class 8 (20%). Note 4 185,901 Class 12 (100) Note 6 8.150 Class 50 (55%) - Note 7 4.900 7 X . 10 13 2. During 2021, the building that was acquired in 2006 was sold for cash of $655.000, of this total, 5130.000 represented the value of the land on which the building was situated. The building had a capital cost of $620.000, of which $100.000 represented the value of the land at time the building was acquired. 12 3. The building was replaced with a new building at a cost of 5805.000, of which $125.000 represented the value of the land. The new replacement building is used 100 percent for office space and is allocated to a separate Classi. 14 4. During 2021, the Company purchased office furnishings for $69.000. They traded in older furnishings and received an allowance o $29,000. The capital cost of the furnishings that were traded in was $56,000. suring the year a Lexus was purchased to be used by the president of the Company. The cost of this car was $93.000. The cnt drives it 23.000 kilometers during the year, of which 5,750 kilometers are for employment related purposes. 6. New computer software that would enable to the employees to work from home was purchased for $10,100 during the year. 7. The company sold all of their computer hardware for $1,000. The original cost of the hardware was $22,000. The company decided to lease their computer hardware instead. 8. Beta Co. has always deducted the maximum CCA a in each year of operation. AMALIA 14 New... Question 2 Question 4 Cover Sheet Question 3 MacBook Pro Required: Calculate the maxim CCA that can be taken on each class of the December 31.2021 UCChance for each and any other income inclusions or deductions resulting from the information provided in the problem Anyament deducted below MUST BE Shown as a negative number. Enter tere's only! Do not enter NIE, adh. De include any terminal loss er rupture in the CCA or put there in the space below Class Cas1 Class 1-new Clans 28 UCC at the beginning of the period 29 Add: Additions 10 Deduct. Disposals 31 Add: Acell Adj. (deduct 1/2 year rule, Class 12) 32 Subtotal. CCA base 33 Rate (9) 34 Deduct: Capital.cast, allowance 35 Deduct: Acell Adj. or Add: 1/2 [year rule (class 12) 36 E UCC at the end of the period 37 12 marks /3 marks 14 marks 38 39 Class Class 10.1 Class 12 Class 50 40 UCC at the beginning of the period 41 Add. Additions 42 Deduct: Disposals Add: Acell Adj. (deduct 1/2 13 year rule, Class 12) Subtotal = CCA base Rate Deducta Capital cost allowance Deduct: Acell Adj. or Add: 1/2 year rule (class 12) = UCC at the end of the period /3 marks /3 marks [2 marks Use the space below to note any recapture and/or terminal loss. Enter all amounts as positive values below. Recaptured CCA Terminal Loss /1 mark /1 mark 3 4 5 11 D o The following information relates to Reta Co. for its taxation year that ends on December 31, 2021: 1. The Company has UCC balances on January 1, 2021 for its tangible assets as follows: Class 1(4). Note 2 $365,871 Class 8 (20%). Note 4 185,901 Class 12 (100) Note 6 8.150 Class 50 (55%) - Note 7 4.900 7 X . 10 13 2. During 2021, the building that was acquired in 2006 was sold for cash of $655.000, of this total, 5130.000 represented the value of the land on which the building was situated. The building had a capital cost of $620.000, of which $100.000 represented the value of the land at time the building was acquired. 12 3. The building was replaced with a new building at a cost of 5805.000, of which $125.000 represented the value of the land. The new replacement building is used 100 percent for office space and is allocated to a separate Classi. 14 4. During 2021, the Company purchased office furnishings for $69.000. They traded in older furnishings and received an allowance o $29,000. The capital cost of the furnishings that were traded in was $56,000. suring the year a Lexus was purchased to be used by the president of the Company. The cost of this car was $93.000. The cnt drives it 23.000 kilometers during the year, of which 5,750 kilometers are for employment related purposes. 6. New computer software that would enable to the employees to work from home was purchased for $10,100 during the year. 7. The company sold all of their computer hardware for $1,000. The original cost of the hardware was $22,000. The company decided to lease their computer hardware instead. 8. Beta Co. has always deducted the maximum CCA a in each year of operation. AMALIA 14 New... Question 2 Question 4 Cover Sheet Question 3 MacBook Pro Required: Calculate the maxim CCA that can be taken on each class of the December 31.2021 UCChance for each and any other income inclusions or deductions resulting from the information provided in the problem Anyament deducted below MUST BE Shown as a negative number. Enter tere's only! Do not enter NIE, adh. De include any terminal loss er rupture in the CCA or put there in the space below Class Cas1 Class 1-new Clans 28 UCC at the beginning of the period 29 Add: Additions 10 Deduct. Disposals 31 Add: Acell Adj. (deduct 1/2 year rule, Class 12) 32 Subtotal. CCA base 33 Rate (9) 34 Deduct: Capital.cast, allowance 35 Deduct: Acell Adj. or Add: 1/2 [year rule (class 12) 36 E UCC at the end of the period 37 12 marks /3 marks 14 marks 38 39 Class Class 10.1 Class 12 Class 50 40 UCC at the beginning of the period 41 Add. Additions 42 Deduct: Disposals Add: Acell Adj. (deduct 1/2 13 year rule, Class 12) Subtotal = CCA base Rate Deducta Capital cost allowance Deduct: Acell Adj. or Add: 1/2 year rule (class 12) = UCC at the end of the period /3 marks /3 marks [2 marks Use the space below to note any recapture and/or terminal loss. Enter all amounts as positive values below. Recaptured CCA Terminal Loss /1 mark /1 mark