Question
Earth Inc. had a Class 10 UCC balance of $12,000 at the end of 2020. The only asset in the pool (a small pickup truck)
Earth Inc. had a Class 10 UCC balance of $12,000 at the end of 2020. The only asset in the pool (a small pickup truck) was sold on December 20th of 2021 for $5,000. On the same day, Earth purchased a new truck for $8,000. How much CCA can Earth claim in 2021? (The maximum CCA is always claimed by Earth Inc.)
Multiple Choice
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$4,950
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$4,500
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$3,600
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$1,350
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International Corporate Reporting Global And Diverse
Authors: Pauline Weetman, Ioannis Tsalavoutas, Paul Gordon
5th Edition
1138364991, 9781138364998
