Question
In April 2020 a company purchased a new automobile for business use for $50,000. In October 2020 the company purchased specialized computer equipment for $20.000.
In April 2020 a company purchased a new automobile for business use for $50,000. In October 2020 the company purchased specialized computer equipment for $20.000. The company has a December 31 year-end. Ignoring sales and provincial taxes, what is the mximum allowable capital cost allowance that the company may claim in 2020?
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine, Christopher D. Burnley
8th Canadian Edition
111959457X, 978-1119594574
