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Find What is the UCC balance at the end of the year

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Reference no: EM132804111

Assume the following information for Easy Co. (assume the openingn UCC balance and all transactions relate to a period of time subsequent to January 1, 2017):

Beginning UCC balance: $56,000
Purchased goodwill during the year: $38,000
Sold various intangible properties included in Class 14.1 for $34,000
(assume original cost is $70,000?)

Problem 1: What is the UCC balance at the end of the year, assuming the maximum CCA deduction was taken in the year?

A. $3,000
B. $57,000
C. $18,000
D. 60,000

Reference no: EM132804111

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