Was there a capital gain, a cca recapture

Reference no: EM133659532

Question: Kool Drinks Corporation purchased $300,000 worth of bottling machinery in 2019. Machinery falls under asset class 43 with a CCA rate of 30%. In 2021, Kool Drinks sold their machinery for $150,000 and moved their production to Mexico.

Was there a capital gain, a CCA recapture or a terminal loss? What if the machinery was sold for $75,000?

Reference no: EM133659532

Questions Cloud

What is implicit meaning of and on many sabbath-lecture day : What is the implicit meaning of "And on many Sabbath and Lecture Day, during the years of war that followed, were proved the wisdom.

How would your answers to parts a and b change : Rick transfers the investments to his wholly-owned C corporation or owns the investments himself. How would your answers to Parts a and b change

Bird found exclusively within californias borders : The yellow-billed magpie holds the honors for being the only bird found exclusively within California's borders.

Required on the financial statements under ifrs : Required on the financial statements under IFRS used to determine share price, the lower the EPS the higher the share price. used by creditors to make lending

Was there a capital gain, a cca recapture : Was there a capital gain, a CCA recapture or a terminal loss? What if the machinery was sold for $75,000?

Compare key aspects of colonial and missionary schooling : Contrast the key aspects of colonial and missionary schooling, such as curriculum,language of instruction, teacher education and pay, philosophy.

Discuss recommendations you suggest to address the concern : Discuss at least recommendations you suggest to address the concern include what other disciplines should be involved.

What will they total during her senior year : fees and books totaled $12,000, what will they total during her senior year (i.e., three years from now), assuming such costs continue to rise 4% annually

About to embrace his wife in his mind when the execution : In An Occurrence at Owl Creek Bridge, Farquhar is about to embrace his wife in his mind when the execution, reality, or soilder?

User Account

All Pages