Joshua Kolmer as the sole sharehoider of Kol$-$er Gensuding Lidd, which provises professonal connsulling services lo severa organizations in the of and ges indissliy Kimer Consultng Lid was incorporated on Seplember $1$ in the pror yeat, snd the corporation has selecled a fiscol yoar$-$and of Documber $31.$ The colporation lnascs otfice spoce in Olteaw, Ontarin

It s now March of the current yoar, and you Bre preparing the corporale tax retum for Kimnr Consading Lld$.$ For ihe priar fiscal ysar ondod December $31,$ weich includes the first four menths af aperations from

View the transiactons.

Bead the requirements.

Requirement $1.$ Determine the acpropnale Captal CostAllowasce clessers for each of the cap tal assel acquisifions.

Select the appropriale class for each assol.

$\backslash$table$[[$Asset$,$Class$],[$Office fumiture,$],[$Electronic equipment,$],[,]]$

Requirement $2.$ Joshua has hoard that capital assets cannol be depreciated unil they are considered 'availabio for use. Explain the "avalable for use" ruins for tax purposes and when the capial asset purchases in The current fiscal period would be consdered avalable for use by the corporation lo Joshua.

A$.$ The Ierm "Avalable for use" generaly means that the asset is ready to be used for is infonded purpose, and additons to a class for asset purchases are made when the asset is available for its intended use.

B$.$ The term "Avsitzie for use" generaly means that the ascet is purchased and domerad. Addfifons to a class for asset purchases ale made when the assot is derivered.

C$.$ The term Awailable for use' generaly means that the asset is ready to be used lor its imlended purpose. Addnons to a class for asset purchases are made when the asset is purchased.

D$.$ The term "Avalabie for use" means that the asset has been purchased and the solu has been fnalzed. However, addinons to a class for assot purchases are made when the asset a avalablo for its inlended use