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Great George Ltd. purchased a group of equipment in December 20X8 for $124,000. In 20X9, the company sold one asset with an original cost of
Great George Ltd. purchased a group of equipment in December 20X8 for $124,000. In 20X9, the company sold one asset with an original cost of $26,300, for $7,200. It spent $41,100 on a new replacement piece of equipment. All equipment qualifies as a Class 8 asset (20%) for tax purposes. Required: Calculate CCA and the closing UCC balance for 20X8 and 20X9. (Negative amounts should be indicated by a minus sign.) 20X8 20x9 CCA UCC closing balance
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