Question
James Co has the following related to Class 8 assets: Beginning UCC Balance: $34,710 James disposes of all assets within the class during the year,
James Co has the following related to Class 8 assets:
Beginning UCC Balance: $34,710
James disposes of all assets within the class during the year, for proceeds of disposition of $15,534. The total cost of these assets was $71,944
If James Co has no additions for the year, and there are no assets remaining in the class at the end of the year, what would be the amount of terminal loss James Co must add to business income for tax purposes?
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Pioneers Of A Profession Chartered Accountants To 1879
Authors: Jas. C. Stewart
1st Edition
0367532557, 9780367532550
