What is the total of UCC balances at December

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Question - A business has assets in three classes. As of the 1st of January 2021 the balances in each of the classes are:


original cost

UCC

Class 8

$27,000

$18,000

Class 12

5,500

0

Class 50

38,000

30,000

During 2021 the business had the following transactions for CCA assets:

Class 8 - disposals: $6,000 sales proceeds; additions: $13,000

Class 12 - disposals: none; additions: $400

Class 50 - disposals: none; additions: $22,000

Required -

(a) What is the maximum allowable CCA deduction for 2021?

(b) Assuming the maximum allowable CCA deduction is taken in 2021, what is the total of UCC balances at 31st December 2021 for all classes?

Reference no: EM133173211

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