Question
SAMI Ltd. was incorporated on January 1, 2020. The incorporation costs were $4,500. SAMI then purchased WELL Co. The assets of WELL Co. included $80,000
SAMI Ltd. was incorporated on January 1, 2020. The incorporation costs were $4,500. SAMI then purchased WELL Co. The assets of WELL Co. included $80,000 of equipment, goodwill of $50,000 and a customer list valued at $30,000. SAMI's year-end is December 31. The company maximizes its allowable deductions. How much is SAMI's Class 14.1 UCC at the end of 2020?
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Managerial Accounting
Authors: Susan V. Crosson, Belverd E. Needles
8th Edition
9780618777174, 618777180, 618777172, 978-0618777181
