Part 1: Shell Corp needs a calculation of its CCA for 2019, but unfortunately they have lost their records. Here are the assets and their classes since 2016. Assume they have taken the maximum CCA in each year. Calculate the CCA for 2016, 2017, 2018, and then 2019. Show all years. Make note of any recapture, capital gain or terminal loss.

Here are their asset records. Nov 2018

Class 1 (4%)

Office Building purchased in 2016 for $390,000, (ignore land).

Class 10 (30%)

Two cars were purchased in 2016 for $24,500 each.

Two cars were purchased in 2017 for $22,000 each. One car was sold for $12,000.

No cars were purchased or sold in 2018

In March 2019, the three remaining cars were sold for $8,000 each.

Class 50 (55%)

A computer was purchased in 2016 for $24,000. CCA was taken each year, but in 2019 it was sold for $10 to a recycler.

Class 12 (100%)

Some tools were purchased at a cost of $3500 in 2016. Half year rule does apply.

Part 2

Two assets were purchased in November 2018 and qualify for the Accelerated Investment Incentive. Purchase price was $76,000 for a Blue Kenworth and $72,000 for a Yellow Kenworth, and both assets went into Class 16 (40%).

Calculate the CCA under the ACII method for these trucks for both 2018, and 2019, show the CCA and the UCC for the Class.

In 2020 the Blue truck is sold for $30,000; no other changes were made. Show the disposition and the CCA for the year.

Part 3

Two assets were purchased in November 2015, Purchase price was $44,000 for a Blue Trailer and $48,000 for a Yellow Trailer, and both assets went into Class 10 (30%).

Calculate the CCA using the half year method for these trailers for both 2015, 2016, and 2017, show the CCA and the UCC for the Class.

In 2018 the Blue trailer is sold for $34,000; no other changes were made. Show the disposition and the CCA for the year.