The following information relates to Alfie Co. for its taxation year that ends on December 31, 2021: Note 1: The Company has UCC balances on January 1, 2021 for its tangible assets as follows: $ $ Class 1 (4%) - Note 2 Class 8 (20%) - Note 3 Class 10 (30%) - Note 4 Class 12 (100%) - Note 5 Class 50 (55%) - Note 6 465,630 192,753 86,739 15,970 24,700 1 2 $ S Note 2: During 2021, the building that was acquired in 2006 was sold for cash of $635,000 of this total $130,000 represented the value of the land on which the building was situated. The building had a capital cost of $620,000, of which $100,000 represented the value of the land at time the building was acquired. 13 The building was replaced during 2021 with a new building at a cost of $805,000, of which $125,000 represented the value of the land. The old building was used 100 percent for office space and was allocated to a separate Class 1. The new replacement building is also used 100 percent for office space and is allocated to a separate Class 1. 5 7 8 Note 3: During 2021, the Company purchased office furnishings for $74,000. They traded in older furnishings and received an allowance of $26,000. The capital cost of the furnishings that were traded in was $56,000, Note 4: The only vehicle purchased during 2021 was a Lexus to be used by the president of the Company. The cost of this car was $93,000. The president drives it 23,000 kilometers during the year, of which 5,750 kilometers are for employment related purposes. 19 20 B C D E F G H Note 5: Computer software that is not systems software is purchased during the year, $ 2,310 Note 6: The company sold all of their computer hardware for $1,000. The original cost of the hardware was $22,000, The company decided to lease their computer hardware instead. Note 7: Alfie Co. has always deducted the maximum CCA a in each year of operation, Required: Calculate the maximum 2021 CCA that can be taken on each class of assets, the January 1, 2022 UCC balance for each class, and any other 2021 income inclusions or deductions resulting from the information provided in the problem. 7 28 Any amounts deducted below MUST BE shown as a negative number. Enter zero's only! Do not enter NIL, oro "dash" . Any amounts deducted below MUST BE shown as a negative number. Enter zero's only! Do not enter NIL, or a "dash" Class Class 1 Class 1-new! Class 8 UCC at the beginning of the period Add: Additions Deduct: Disposals Add: Acell Adj. (deduct 1/2 year rule, Class 12) Subtotal =CCA base Rate(%) Deduct: Capital cost allowance Deduct: Acell Adj. or Add: 1/2 year rule (class UCC at the end of the period 12 marks a marke 14 marks 40 41 Class 10 Class 10.1 Class 12 Class 50 42 43 44 Class UCC at the beginning of the period Add: Additions Deduct: Disposals Add: Acell Adj. (deduct 1/2 year rule, Class 12) 45 46 47 48 Subtotal=CCA base Rate(%) Deduct: Capital cost allowance Deduct: Acell Adj. or Add: 1/2 year rule (class 12) - UCC at the end of the period 49 SO 51 /2 marks /3 marks /3 marks /2 marks 53 54 55 56 52 58 59 60 61 Use the space below to note recapture, terminal loss, taxable capital gains, or allowable capital losses resulting from the above dispositions. (4 marks) Enter all amounts as positive values below. Recaptured CCA (1 mark Terminal loss /1 mark Taxable capital gain /1 mark Allowable capital loss /1 mark The following information relates to Alfie Co. for its taxation year that ends on December 31, 2021: Note 1: The Company has UCC balances on January 1, 2021 for its tangible assets as follows: $ $ Class 1 (4%) - Note 2 Class 8 (20%) - Note 3 Class 10 (30%) - Note 4 Class 12 (100%) - Note 5 Class 50 (55%) - Note 6 465,630 192,753 86,739 15,970 24,700 1 2 $ S Note 2: During 2021, the building that was acquired in 2006 was sold for cash of $635,000 of this total $130,000 represented the value of the land on which the building was situated. The building had a capital cost of $620,000, of which $100,000 represented the value of the land at time the building was acquired. 13 The building was replaced during 2021 with a new building at a cost of $805,000, of which $125,000 represented the value of the land. The old building was used 100 percent for office space and was allocated to a separate Class 1. The new replacement building is also used 100 percent for office space and is allocated to a separate Class 1. 5 7 8 Note 3: During 2021, the Company purchased office furnishings for $74,000. They traded in older furnishings and received an allowance of $26,000. The capital cost of the furnishings that were traded in was $56,000, Note 4: The only vehicle purchased during 2021 was a Lexus to be used by the president of the Company. The cost of this car was $93,000. The president drives it 23,000 kilometers during the year, of which 5,750 kilometers are for employment related purposes. 19 20 B C D E F G H Note 5: Computer software that is not systems software is purchased during the year, $ 2,310 Note 6: The company sold all of their computer hardware for $1,000. The original cost of the hardware was $22,000, The company decided to lease their computer hardware instead. Note 7: Alfie Co. has always deducted the maximum CCA a in each year of operation, Required: Calculate the maximum 2021 CCA that can be taken on each class of assets, the January 1, 2022 UCC balance for each class, and any other 2021 income inclusions or deductions resulting from the information provided in the problem. 7 28 Any amounts deducted below MUST BE shown as a negative number. Enter zero's only! Do not enter NIL, oro "dash" . Any amounts deducted below MUST BE shown as a negative number. Enter zero's only! Do not enter NIL, or a "dash" Class Class 1 Class 1-new! Class 8 UCC at the beginning of the period Add: Additions Deduct: Disposals Add: Acell Adj. (deduct 1/2 year rule, Class 12) Subtotal =CCA base Rate(%) Deduct: Capital cost allowance Deduct: Acell Adj. or Add: 1/2 year rule (class UCC at the end of the period 12 marks a marke 14 marks 40 41 Class 10 Class 10.1 Class 12 Class 50 42 43 44 Class UCC at the beginning of the period Add: Additions Deduct: Disposals Add: Acell Adj. (deduct 1/2 year rule, Class 12) 45 46 47 48 Subtotal=CCA base Rate(%) Deduct: Capital cost allowance Deduct: Acell Adj. or Add: 1/2 year rule (class 12) - UCC at the end of the period 49 SO 51 /2 marks /3 marks /3 marks /2 marks 53 54 55 56 52 58 59 60 61 Use the space below to note recapture, terminal loss, taxable capital gains, or allowable capital losses resulting from the above dispositions. (4 marks) Enter all amounts as positive values below. Recaptured CCA (1 mark Terminal loss /1 mark Taxable capital gain /1 mark Allowable capital loss /1 mark