Calculate the ending ucc balance for forbi ltd

Assignment Help Financial Accounting
Reference no: EM132551899

Question 1: Forbi Ltd., with a taxation year that ends on December 31, has a Class 8 (20 percent) UCC balance on January 1, 2019 of $360,070. During 2019, it acquires eligible AccII Class 8 assets at a total cost of $69,356. The Company also disposes of Class 8 assets for total proceeds of $22,449. In no case did the proceeds of disposition exceed the capital cost of the assets being disposed of. Calculate the ending UCC balance in Class 8 for Forbi Ltd. in 2019.

Reference no: EM132551899


Write a Review


Financial Accounting Questions & Answers

  Problem - Amortization and Depletion Entries

Problem - Amortization and Depletion Entries. Journalize the adjusting entries required to record the amortization, depletion, or impairment for each item

  What is the price of car

You decide to take out a car loan at 4.5% APR for 60 months. If your monthly payments are $512.68, what is the price of your car?

  How the US legal system promotes the expansion of commerce

Understands the fundamentals of law and how the U.S. legal system promotes the expansion of commerce while protecting the rights of citizens

  What is initial investment outlay after bonus depreciation

What is the initial investment outlay after bonus depreciation is considered? Write out your answer completely. For example, 13 million should be entered

  When using the declining-balance method

When using the declining-balance method, the annual depreciation for the first year is found by

  Write economic aspect related content

Write economic aspect related content, internship is in the bank to do customer purchasing data analysis the internship main topic is data analysis

  Show give entry in accounts as well as the closing balance

On 31 May Turner Tyres pays 50 per cent of the amount due.  - Show this entry in the accounts as well as the closing balance on the Turner Tyres account.

  How focus of iasb and international federation of accountant

Discuss the relationship between the IASB and the International Accounting Standards Committee Foundation. Discuss how the focus of the IASB and the International Federation of Accountants are similar and different.

  Explain current industry trend that has significant impact

Identify the current industry trend that has the most significant impact on your chosen organization's financial performance. Indicate the trend's impact on the financial performance of the organization.

  Journalize the adjusting entry that metro magazine makes

Journalize the adjusting entry that Metro Magazine makes to record the earning of $12,000 of subscription revenue that was collected in advance. Include an explanation for the entry.

  List two principles of statistical analysis

List two principles of statistical analysis, and at least one (1) practice associated with the principle specified. Response must be in the context of budgeting

  Company produces a handcrafted balinese

Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone

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