Can you please assist me/ help me solve the following question: Sunpeel Ltd., with a taxation year
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Can you please assist me/ help me solve the following question:
Sunpeel Ltd., with a taxation year that ends on December 31, has a Class 10 (30 percent) UCC balance on January 1, 2020 of $900,000. During 2020, it acquires 10 eligible AccII cars at a cost of $25,000 each, for a total addition of $250,000. The Company also disposes of 8 cars for total proceeds of $120,000. In no case did the proceeds of disposition exceed the capital cost of the vehicle being disposed of. Determine the maximum Class 10 CCA that Sunpeel can deduct for 2020, as well as the January 1, 2021 UCC balance.
Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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