User Account

All Pages

Calculate the maximum capital cost allowance deduction

Assignment Help Accounting Basics
Reference no: EM132577957

Question - The following balances were found in the various classes of depreciable assets on the books of Wasting Assets Ltd, as at January 1, 2019:

Class 1 (see note1, bellow) $120,000

Class 8 75 000

Class 10 (truck for transportation of goods) 40 000

(1) The class 1 undepreciated capital cost represents two buildings costing $100,000 each. One building sold for $150 000 during 2019.

Required - Calculate the maximum capital cost allowance deduction for tax purposes in 2019 (CCA rate class 1 @ 4%, Class 8 @ 20% and class 10 @ 30% respectively).

Reference no: EM132577957

Questions Cloud

Calculate amortization and carrying amount at december : Calculate amortization for 2020; carrying amount at December 31, 2020; amortization for 2021; and carrying amount at December 31, 2021.
Distinguish between cash and accrual basis of accounting : Distinguish between cash and accrual basis of accounting. Compute 2019 accrual-basis net income. Compute 2019 cash-basis net income.
What does malware free mean : What does "malware free" mean? How can a user demonstrate that their computer or device is malware free?
Prepare journal entry to record the software replacement : Prepare journal entry to record the software replacement. (Credit account titles are automatically indented when the amount is entered.)
Calculate the maximum capital cost allowance deduction : Calculate the maximum capital cost allowance deduction for tax purposes in 2019 (CCA rate class 1 @ 4%, Class 8 @ 20% and class 10 @ 30% respectively)
Memory management is difficult in virtual memory : The control of the serialization of memory management is difficult in a "Virtual Memory" and especially when "Virtual Machines" are included.
Calculate the contribution margin and operating income : Calculate the contribution margin and operating income that Internal Medical will contribute to the practice. Actual Number of Visits: 1950
Compute income for tax purposes for Incredible Incubators : Using the foregoing information, compute income for tax purposes for Incredible Incubators their fiscal year ended September 30, 2019
Influences implementation of innovation technologies : This week's journal article focuses on attribution theory and how it influences the implementation of innovation technologies.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd