Calculate the maximum cca that can be claimed

Assignment Help Accounting Basics
Reference no: EM132851147

Question: Carolyn runs a small unincorporated business that she started in 2017.

In 2020, The opening UCC in her class 8 (20%) assets was $112,000. She disposed of class 8 assets with an original cost of $15,000 for proceeds of $10,000. She purchased new class 8 assets for $13,000.

1) Calculate the maximum CCA that can be claimed for class 8 in 2020.

2) Calculate the closing UCC of this class for 2020.

Reference no: EM132851147

Questions Cloud

Find the z-scores for the student for exam a : a. A student gets a 76 score on both exams. Find the Z-scores for the student for both Exam A and Exam B.
Write synthesis essay on preventing tobacco use among youths : In about 750 words, write a synthesis essay on preventing tobacco use among youths and young adults. APA references
What advantages does the control risk reduction approach : What advantages does the control risk reduction approach Session plan to use over the substantive approaches previously used in the McClain Plastics audit?
Explain why the formula is the correct one to use : If you use a formula to answer this question, explain why the formula is the correct one to use.
Calculate the maximum cca that can be claimed : Calculate the maximum CCA that can be claimed for class 8 in 2020 and Calculate the closing UCC of this class for 2020.
Find the value of the chi-square statistic for the sample : Find the value of the chi-square statistic for the sample. (Round the expected frequencies to at least three decimal places. Round the test statistic to three d
Present interpretation of the lower confidence limit : John is the Chief Financial Officer of a very large software company that employs more than 5,000 programmers. He is committed to increase funding
Difference between two population means : Formulate or conduct a two-sample t-test for difference between two population means using independent samples and interpret the results
What gain or loss will be reported on the income statement : The machine cost $12,000 and had accumulated depreciation of $9,000 at the time of sale. What gain or loss will be reported on the income statement

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