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A business has a year-end of December 31st. The following are balances at January 1, 2017 and the transactions that occurred throughout 2017. The UCC
A business has a year-end of December 31st. The following are balances at January 1, 2017 and the transactions that occurred throughout 2017. The UCC beginning-of-the-year balances were as follows Class 1 - Building Class 8- Office equipment Class 10- Vehicles Class 10.1 - Car Class 13 - Leasehold Improvements Class 12 -Application software $144,841 36,618 124,001 15,333 37,515 1,482 On February 5, the business acquired another 'company car' at a cost of $37,899. On March 20, the business sold the car that they had purchased in 2011 for $49,000; the business received $10,000 on the sale On July 17, the company purchased the rights to a franchise for 15 years for $525,000 On August 31, the company made additional renovations to a building rented by the business, costing $61,000. The company rents this building at a cost of $5,000 per month. The company signed the ten-year lease on January 1, 2008; the lease contains two renewal options of two years each. The business intends to renew both times the option becomes available. The company made $96,000 in renovations at the inception of the lease The business sold a delivery van for $45,000 on July 10; the business had purchased this van in 2016 for $43,500 A new delivery van was purchased by the business on December 30, for $62,000 . The company had new telephone equipment installed on June 15. The business purchased this equipment for $48,000. The business has elected to treat this equipment as a separate class Twelve new smartphones were acquired by the business for $1,025 each, on November 10 On February 1, the business sold its application software for $2,000. The software had a cost of $5,500 On March 20, the business sold the only building that it owned for $120,000. The company purchased the building in 1995 for $210,000 . . Using Microsoft Excel or a Word table, complete a CCA schedule
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