Jarod Smith is the sole shareholder of Smith Consulting Lid., which provides professional consulting services to several crganizations in the oll and gas industry. Smith Consulting Ltd. was incorporated on September 1 in the prior year, and the corporation has selected a fiscal year-end of December 31. The corporation leases offlce space in Toronto, Ontaria. It is now March of the current year, and you are preparing the corporate tax rebum for Smith Consulting Lid. for the prior fiscal year ended December 31, which includes the first four months of operations from September 1 to December 31 of the prior year. Jarod Smith informs you that the corporation is doing well and he has developed a strong network of clients in the oil and gas consulting industry. View the transactions. Read the requirements Transactions asset purchases in the A. The term "Avall 1. On September 1 of the prior year, Smith Consuiting purchased severai pieces for its intended of office furniture for the rented office space including several chairs, a small desk, several small side tables, and two sotas. The total cost of all B. The term "Aval! purchased fumiture was $42,450. C. The term "Avail 2. On September 6 of the prior year, Smith Consuiting purchased laptop computers and a printer for a total cost of \$5,285. available for its 3. On November 1 of the prior year, Smith Consulting purchased a lisury sedan D. The term "Avail for $51,400. The vehicle will be used by the sole shareholder, Jarod Smith, as he often needs to travel to meet clients or to inspect potential job sites. Requirement 3. Calcul the end of the previous Select the classes that a class for asset purchases are made when the asset is available rchases are made when the asset is delivered. ins to a class for asset purchases are made when the asset is the previous year for ex lass for asset purchases are made when the asset is purchased. I as the closing Undepreclated Captal Cost balances for each class : deduction and the closing Undepreciated Capital Cost balances for he input field empty; do not enter a zero.) Jarod Smith is the sole shareholder of Smith Consulting Ltd., which provides professional consulting services to several organizations in the oil and gas industry. Smith Consulting Lid. was incorporated on September 1 in the prior year, and the corporation has selected a fiscal year-end of December 31. The corporation leases office space in Toronto, Ontario. It is now March of the current year, and you are preparing the corporate tax retum for Smith Consulting Lid. for the prior fiscal year ended December 31, which includes the frst four months of operations from September 1 to December 31 of the prior year, Jarod Smith informs you that the corporation is doing well and he has developed a strong network of clients in the oil and gas consulting industry. Requirement 3. Calculate the maximum Capital Cost Allowance deduction that can be claimed for Smith Consulting Lid. as well as the closing Undepreciated Capital Cost balances for each class a the end of the previous year. Use a 365 day year. Select the classes that represent the collection of assets in the following table. Then enter the maximum Capital Cost Allowance deduction and the closing Undepreciated Capital Cost balances for the previous year for each class. (Round your answer to the nearest whole dollar. If an input feid is not used in the thble, leave the input field empty; do not enter a zero,)
