Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. a firm holds fixed assets in a cca class with a uc

A firm holds fixed assets in a CCA class with a UCC balance of $10,000...

90.2K

Verified Solution

Question

Finance

image

image

A firm holds fixed assets in a CCA class with a UCC balance of $10,000 and an ACB of $20,000. If the last item in the asset class is sold at a price of $8,000 (proceeds of disposition) which of the following statements is correct? The firm has a remaining UCC balance of $2,000 The firm has a capital gain on this class of $10,000 The firm has a capital loss on this class of $10,000 The firm has a terminal loss of $2,000. None of the above are correct A relative of yours has been a member of a defined pension plan for 12 years. The plan offers a pension payment based on 2% of a members pensionable earnings. The plan uses the member's last three years of earnings in determining the pension to be paid. Based on the above facts and following income information, what amount of pension would the family member receive if he/she retired as of December 31, 2016. Year Pensionable Income 2016 $55,000 2015 $52,000 $48,000 2013 $48,000 $10,333 O $11,520 O $12,400 $14,352

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You are the finance manager of your company. Your company is planning for capacity expansion and...

Advance Math
Q

What is the equivalence point pH for the titration of 25ml 0.80M diethyleneamine (kb = 5.9x10-4)...

Chemistry
Q

Read the Scenario below and answer the questions that follow. You are working on a project to...

Finance
Q

What are the differences in the urinary system of humans compared to the camels urinary system?

Medical Sciences
Q

To His Coy Mistress In this poem, Marvell speaker sets outs to convince a reluctant woman...

Psychology
Q

Part 1 which appeared in the February 2012 issue introduced the concept of confidence intervals...

Basic Math
Q

If f x f x COS 526 find f x Use exact values

Calculus
Q

Bariow Company manulactures three products-A, B, and C. The selling price, variable costs, and contribution...

Accounting
Q

Scobie Company began 2016 with a retained earnings balance of $142,400. During an examination of...

Accounting
Q

video me value o Suppose that Eileen is 35 years old and has no retirement...

Finance
Q

Charlene is evaluating a capital budgeting project that should last for 4 years. The project...

Finance
Q

BE SURE TO PROVIDE 1) UPPER AND LOWER CONTROL LIMITS AND APPROPRIATE CHARTS FOR EACH...

Finance