Question
At the beginning of 2019, Wazza Inc., has two assets in class 8. The cost of each asset was $54,000 and the class 8 UCC
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At the beginning of 2019, Wazza Inc., has two assets in class 8. The cost of each asset was $54,000 and the class 8 UCC balance was $50,000. On July 30, 2019, both of the assets were sold for a total of $30,000. There are no other additions or dispositions prior to the companys December 31, 2019 year-end.
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What is the effect of the disposition on the companys 2019 net business income?
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What is the companys January 1, 2020 UCC balance in Class 8?
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Accounting In A Nutshell Accounting For The Non-specialist
Authors: Walker, Janet
3rd Edition
075068738X, 9780750687386
