Class 14.1 Using the information provided, answer the following questions: Question 11 (2 points) Listen Zed Lid. purchased a franchise on August 1, 2018, had cost $62,000 and a legally limited life of 8 years. What is the maximum CCA deduction that Zed Lid. can claim in the 2020? $7,750 $12,400 $10,200 $11,625 Question 12 (2 points) Listen During 2020, Zed Lid. purchased office furnishings for $74,000. They traded in older furnishings and received an allowance of $17,000. The capital cost of the furnishings that were traded in was $56,000. What is the maximum amount of CCA Zed Lid. can claim for the office furnishings in 2020? 14 II F9 F10 F5 F7 F8 F1 F2 20 F3 F4 $ A & @ # 6 8 O 2 3 4 5 W E R T Y U S D F G H K LAmy Chu: Attempt 1 Question 12 (2 points) Listen During 2020, Zed Lid. purchased office furnishings for $74,000. They traded in older furnishings and received an allowance of $17,000. The capital cost of the furnishings that were traded in was $56,000. What is the maximum amount of CCA Zed Lid. can claim for the office furnishings in 2020? $54,000 $22,200 $65,700 $60,000 Question 13 (2 points) Listen Zed Lid. signed the new lease on March 1, 2020 and had an initial term of 7 years. Z Ltd. has an option to renew for two additional four-year periods. At the time the lease was signed, Z Lid. spent $77,000 on leasehold improvements. What is the maximum CCA deduction that Zed Lid. can claim in the 2020? $11,000 114 F9 F10 44 F7 F8 20 F3 F5 FI F2 $ % A & O @ # 8 9 5 6 N 3 4 U O W E R T Y K S D F G HLeft:1:30:56 Amy Chu: Attempt 1 Question 13 (2 points) Listen Zed Lid. signed the new lease on March 1, 2020 and had an initial term of 7 years. Z Lid. has an option to renew for two additional four-year periods. At the time the lease was signed, Z Lid. spent $77,000 on leasehold improvements. What is the maximum CCA deduction that Zed Lid. can claim in the 2020? $11,000 $10,500 $7,000 $4,620 Question 14 (2 points) Listen In 2020, Zed Lid. disposed of the passenger vehicle (cost $52,000; UCC $25,000) for $15,000. At the same time Zed Lid. purchased a new passenger vehicle for $44,000 plus GST. What is the maximum CCA deduction that Zed Lid. can claim in the 2020? $21,000 $19,800 44 F8 F9 F10 20 F F7 F4 F5 - - F6 F1 F2 % A & @ 9 O 3 4 5 6 2 O W E R TA he Left:1:30:52 Amy Chu: Attempt 1 UYT,ULU Question 14 (2 points) Listen In 2020, Zed Lid. disposed of the passenger vehicle (cost $52,000; UCC $25,000) for $15,000. At the same time Zed Lid. purchased a new passenger vehicle for $44,000 plus GST. What is the maximum CCA deduction that Zed Lid. can claim in the 2020? $21,000 $19,800 $17,250 $20,550 Question 15 (2 points) Listen The building was sold in 2020 for $800,000, the original capital cost was $620,000. Rather than acquire a new building, Zed Lid. decided to lease a building. Which of the following is the correct tax implication arising from the disposition of the building? Recapture $321.305 and an allowable capital loss $70.653. 44 F1 F2 F3 F5 F6 F7 F8 F9 F10 @ LA NO 3 A 5 18 9 O W E RCalculation of Capital Cost Allowance (CCA) On January 1, 2020, Zed Lid., a GST registrant, has UCC balances for the capital properties used in its business as follows: Class 1 $478,695 243,000 Class 8 Class 10 126,000 Class 10.1 25,000 Class 14.1 51,001 Using the information provided, answer the following questions: Question 11 (2 points) Listen D Zed Lid. purchased a franchise on August 1, 2018, had cost $62,000 and a legally limited life of 8 years. What is the maximum CCA deduction that Zed Lid. can claim in the 2020? DD F1 F2 20 F3 BOO F4 44 F5 F7 F8 F9 F10 @ # $ % 4 5 6 7 8 9 O 2 3 W E R T Y U O S D F G H K <