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please answer in the template provided in the second image The income statement that has been prepared by Corner Spa Lid.'s accountant for the current
please answer in the template provided in the second image
The income statement that has been prepared by Corner Spa Lid.'s accountant for the current year ending June 30 is as follows: During the year, Spa sold disposed of worn furniture. The original cost was $4,000 and no proceeds were received. Custom equipment with an original cost of $49,000 was sold for $61,000. The equipment and furniture were replaced with new furniture and equipment costing $63,000. Note 2: Spa carries life insurance on the COO to ensure the company can continue until they redeploy personnel or hire a replacement. Note 3: Meals and Entertainment expense included $1,000 for the company Christmas party. The remainder was spent while entertaining clients. Note 4: The major expense ($30,000) was incurred upgrading the flooring in the treatment rooms. The remainder was for servicing equipment and painting. Note 5: S pa has $8,000 in their net capital loss pool, and a $12,000 balance in their non-capital loss carryover pool. Both losses were incurred in the previous fiscal period due to mandated lockdowns. REQUIRED: Assignment 1 Capital Cost Allowance Schedule (CCA): Using an Excel workbook, prepare the CCA schedule in good form for Comer Spa Lid. You may use the vertical format as in the textbook: \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & & & Deduct: & & & & & & & & & \\ \hline & & & Lesser od & & & & & & & & & \\ \hline & & & cost of & & & & & & & & & \\ \hline & & & Proceeds & & 184 & 365 & 0.504109589 & & & & & \\ \hline Class & Derinning UCC & Additions & Dirostibs & Bevineducc & Berarouse & Teminalloss & 1/2 Year hile & Abch & Adlinated UucC & casyte & ceA & Indine Luce. \\ \hline & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & \\ \hline & & & & a) & & & & o & a & & a & a \\ \hline \end{tabular} UCC begining (*) Addition H Ouposah Net additions - Obeoseh (.) UCC tefore CAA Hecapture Terminah Loss Muccu fermitted Hou beductionn (-) UCC beginnine nent fical pericd \begin{tabular}{|l|l|l|} \hline & 110 \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Step by Step Solution
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