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Consider the following separate, INDEPENDENT cases: CASE #1: On January 1, 2020, the beginning UCC balance for this particular class was $6,000. Included in this

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Consider the following separate, INDEPENDENT cases: CASE #1: On January 1, 2020, the beginning UCC balance for this particular class was $6,000. Included in this class are many pieces of office furniture and equipment. During 2020, a new photocopier was purchased for $10,000 and some old filing cabinets were sold for total proceeds of $2,000. The original cost of these filing cabinets was $5,000. CASE #2: On January 1, 2020, the beginning UCC balance for this particular class was $55,000. Included in this class are two large machines used for manufacturing that were originally purchased in 2018. During 2020, one of the machines was sold for proceeds of $70,000. The original cost of this machine that was sold was $64,000. Required: For EACH of the separate, INDEPENDENT cases presented above, compute (A) the maximum capital cost allowance (CCA) and/or any other tax consequence that may arise for the 2020 taxation year, as well as (B) the ending UCC balance. For appropriate amounts calculated, be sure to identify how it is treated for tax purposes (ie. "income" or "deduction"). (Label all work) Consider the following separate, INDEPENDENT cases: CASE #1: On January 1, 2020, the beginning UCC balance for this particular class was $6,000. Included in this class are many pieces of office furniture and equipment. During 2020, a new photocopier was purchased for $10,000 and some old filing cabinets were sold for total proceeds of $2,000. The original cost of these filing cabinets was $5,000. CASE #2: On January 1, 2020, the beginning UCC balance for this particular class was $55,000. Included in this class are two large machines used for manufacturing that were originally purchased in 2018. During 2020, one of the machines was sold for proceeds of $70,000. The original cost of this machine that was sold was $64,000. Required: For EACH of the separate, INDEPENDENT cases presented above, compute (A) the maximum capital cost allowance (CCA) and/or any other tax consequence that may arise for the 2020 taxation year, as well as (B) the ending UCC balance. For appropriate amounts calculated, be sure to identify how it is treated for tax purposes (ie. "income" or "deduction"). (Label all work)

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