Juan Co has the following related to Class 8 assets: Beginning Balance: $46,000 Juan disposes of all assets within the class during the year, for proceeds of disposition of $23,000. If Juan Co has no additions for the year, and there are no assets remaining in the class at the end of the year, which of the following will occur? Choose the correct answer. O A. recapture of $23,000 of CCA O B. a terminal loss of $23,000 O C. recapture of $18,400 of CCA O D. a terminal loss of $18,400You are provided with the following information related to class 8 assets for the current year: Undepreciated Capital Cost (UCC) Beginning Balance: $78,000 Cost of additions: $2,000 Dispositions (i.e. reduction for disposals): $16,000 The class 8 rate is 20%. Using only this information, what is the maximum capital cost allowance (CCA) deduction for the current year for class 8? Choose the correct answer. O A. $12,600 O B. $12,800 O C. $15,800 O D. $12,400A proprietorship commenced operations on May 1, 2020 and will have a calendar scal year. On June 1, 2020, the proprietorship acquired goodwill for $53,000. Using only this information, what is the maximum CCA deduction of the goodwill for the year 2020? Choose the correct answer. [Round to the nearest whole dollar as needed.) 0 A. $2,668 0 B. $2,650 0 c. $1,868 0 D. $1,779 A proprietorship has a calendar fiscal year and acquires a machine on April 1, 2020. The machine has a cost of $66,000. The proprietor pays a contractor $17,000 to install the machine and pays a non-refundable provincial sales tax of $9,000. The machinery is Class 8 equipment with a CCA rate of 20%. Assuming that the opening UCC for Class 8 assets is $0, what is the maximum CCA that can be deducted for this machine in fiscal year 2020? Choose the correct answer. O A. $27,600 O B. $18,400 O C. $24,900 O D. $9,200The information provided below is related to Class 8 assets for the current year 2020. - Undepreciated Capital Cost (UCC) beginning balance: $120,000 - Cost of additions: $24,000 ' Dispositions (reduction for disposals]: $8,500 The Class 8 rate is 20%. Using only this information, what is the maximum capital cost allowance (CCA) deduction for the Class 8 assets during 2020? Choose the correct answer. Q A. $25,550 0 a. $31,200 0 0. $27,100 0 0. $28,650 ABD Company has the following information related to class 10 assets for the current year: Beginning Balance: $152,000 cost of additions: $20,000 Dispositions, proceeds: $34,000 (original cost = $54,000) The class '10 rate is 30%. Using only this information, what is the maximum CCA deduction for the current year for class '10 assets? Choose the correct answer. 0 A. $42,500 0 B. $48,500 0 0. $40,800 0 0. $44,400 ABD Marketing has the following information related to Class B assets for the year 2020. Beginning Balance: $33,000 Cost of additions: $15,000 Dispositions, proceeds: $5,000 (original cost: $16,000) The Class 3 rate is 20%. Using only this information, what is the maximum CCA deduction ABD Marketing can have for the Class 8 assets during 2020? Choose the correct answer. Q A. $3,000 0 a. $13,000 0 0. $20,000 0 D. $10,000 MA is a proprietorship that has a calendar scal year. The proprietorship begins operations on April 1, 2020 and acquires a machine on December 1, 2020. The machine has a cost at $22,000 and MA incurs an additional $5,600 in expenses for installation. The machine is a Class B asset with a rate of 20%. What is the maximum CCA deduction A1 A can take on this asset for the April 1 to December 31, 2020 scal year? Choose the correct answer. (Round your answer to the nearest dollar.) 0 A. $8,280 0 a. $6,238 0 c. $4,159 0 D. $2,079 The following information is related to Class 14.1 assets for the year 2020. Balance at beginning of the year: $56,000 Purchased goodwill during the year for $18,500. Sold various intangible propertied included in Class 14.1 for $14,000 {Assume original cost of disposed property is $29,000.) What is the maximum CCA in 2020? Choose the correct answer. (Round to the nearest whole dollar as needed.) 0 A. $4,145 0 a. $3,325 0 c. $3,133 0 13. $2,913 First Lakes Company is incorporated and starts operations on July 1, 2020. On October 1, 2020, it acquires goodwill for $14,000. Assuming the company has a December 31 fiscal year-end, what is the maximum CCA for 2020? Choose the correct answer. (Round the final answer to the nearest dollar.) O A. $353 O B. $529 O C. $265 O D. $1050XYZ Company purchases computer software that is not systems software during the current year. The acquisition cost is $5,000, and the assets are Class 12 assets with no special circumstances. Using only this inton'nation, if XYZ takes the maximum allowable CCAfor the year, what is the UCC on Class 12 assets at the beginning of the fallowing year? Choose the correct answer. Q A. $0 0 a. $4,000 0 c. 52,500 0 D. $3,500 ACB Engineering has the following information related to Class 8 assets for the year 2020. Beginning Balance: $80,000 Cost of additions: $28,000 Proceeds of disposition: $19,500 (original cost of disposed property: $39,000) The Class 8 rate is 20%. Assuming ACB takes the maximum CCA deduction for this class, what is the UCC balance of the Class 3 assets at the end of 2020'? Choose the correct answer. Q A. $59,550 0 a. $?5,450 0 0. $55,500 0 0. $52,300 CBF Company has a calendar fiscal year and acquires a machine on April 1, 2020 that costs $34,000. The firm pays a contractor $8,000 to install the machine and pays a non-refundable provincial sales tax of $4,800. The machinery is a Class 8 asset with a CCA rate of 20% and is the only asset in this class. What is the maximum CCA CBF Company can deduct on this machine for the 2020 fiscal year? Choose the correct answer. O A. $14,040 O B. $12,600 O C. $4,680 O D. $9,360Assume the following information tor Giant Co. [assume the opening UCC balance and all lransactions relate lo a period of time subsequent to January 1, 2017): Beginning UCC balance: $40,000 Purchased goodwill during the year: $22,000 Sold various intangible properties included in Class 14.1 for $32,000 (assume original cost is $40,000) What is the UCC balance at the end of the year, assuming the maximum CCA deduction was taken in the year? Choose the correct answer. 0 A. $28,500 0 a. $13,000 0 0. $30,000 0 D. $1,500 You are provided with the following information related to Class 14.1 (assume the opening UCC balance and all transactions relate to a period of time subsequent to January 1, 2017]: - Balance at beginning of the year: $54,000 - Purchased goodwill during the year for $1 1 ,000 - Sold various intangible properties included in Class 14.1 for $29,000 (assume original cost of disposed property is greaterthan proceeds of $29,000) What is the maximum USA in the year? Choose the correct answer. Q A. $2,520 0 a. $900 0 c. $1,800 0 p. $3,250