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  3. 1. in 2018, abc corporation purchased a new photoc

1. In 2018, ABC Corporation purchased a new photocopier (asset class 8) with a CCA rate...

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Accounting

1. In 2018, ABC Corporation purchased a new photocopier(asset class 8) with a CCA rate of 20% for $5,000, as well as a newtruck (asset class 10) with a CCA rate of 30% for $40,000.

* Calculate total CCA for ABC Corporation for each ofthe first 3 years.( SHOW ALL CALCULATIONS)

Answer & Explanation Solved by verified expert
4.4 Ratings (989 Votes)
As per CCA rule on deprecaible asset The Canada revenue agency defines this as the earliest of The time at which the property is first used by the claimant for the purpose of earning income    See Answer
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1. In 2018, ABC Corporation purchased a new photocopier(asset class 8) with a CCA rate of 20% for $5,000, as well as a newtruck (asset class 10) with a CCA rate of 30% for $40,000.* Calculate total CCA for ABC Corporation for each ofthe first 3 years.( SHOW ALL CALCULATIONS)

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