What is the maximum cca deduction

Assignment Help Accounting Basics
Reference no: EM133066067

Question - A1A is a proprietorship that has a calendar fiscal year. The proprietorship begins operations on April? 1, 2020  and acquires a machine on December? 1, 2020.  The machine has a cost of  ?$20,694 and A1A incurs an additional ?$5,018 in expenses for installation. The machine is a Class 8 asset. What is the maximum CCA deduction A1A can take on this asset for the April 1 to December? 31, 2020 fiscal? year?

Reference no: EM133066067

Questions Cloud

What is the consolidated net income reported for the year : Saddle reported net income of $80,000 in 20X8, earned uniformly throughout the year, What is the consolidated net income reported for the year
Evaluating cloud collaboration service : Evaluating a cloud collaboration service. List the advantages and disadvantages of utilizing a cloud collaboration solution.
Cloud service model with similar on-premise deployment : Compare and contrast the advantages and disadvantages of your Cloud Service model with a similar On-Premise deployment.
Calculate the past growth rate in earnings : Question - The Bouchard Company's EPS was $5.90 in 2021, up from $3.47 in 2016. Calculate the past growth rate in earnings
What is the maximum cca deduction : The machine is a Class 8 asset. What is the maximum CCA deduction A1A can take on this asset for the April 1 to December? 31, 2020 fiscal? year
Explain the concept of information stores : Explain the concept of information stores. Why is an understanding of how different clients store messaging information critical to the success of an email sear
Types of individuals are only slightly risk averse : Suppose that every driver faces a 1% probability of an automobile accident every year. An accident will, on average, cost each driver $6,000. Suppose there are
What is knowledge discovery in databases : What is knowledge discovery in databases (KDD)? Review section 1.2 and review the various motivating challenges.
How rapidly database technology : It is amazing how rapidly database technology has evolved and how pervasive database use has become.

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.

  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!

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