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Calculate depreciation and cca

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Calculate depreciation and CCA

  • Five identical vehicles which cost $500,000 (total) are acquired on April 1, 2017. Their estimated residual value is $20,000 and expected life is eight years. These assets are Class 10 with a maximum CCA rate of 30%. The company has a December 31 year end.

Required:

Question 1: Calculate the depreciation expense/CCA (to the nearest dollar) by each of the following methods:

a) Straight-line for 2017

b) Double declining-balance for 2018

c) Maximum Capital cost allowance for 2018

Reference no: EM132506163

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