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ASAPPP The January 1, 2020 balance in this class 8/20%) was...

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Accounting

ASAPPP
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The January 1, 2020 balance in this class 8/20%) was $364,000. During 2020, the Company acquired Class 8 assets at a cost of $150,000. Class 8 assets with a capital cost of $103,000 were sold for proceeds of $65,000. None of the individual assets sold had proceeds that exceeded their individual capital cost. Calculate the maximum CCA that can be taken on the class of asset for the year ending December 31, 2020 and calculate the UCC for the class of asset on January 1, 2021. In addition, determine the amount of any recapture or terminal loss that may arise. The January 1, 2020 balance in this class 8/20%) was $364,000. During 2020, the Company acquired Class 8 assets at a cost of $150,000. Class 8 assets with a capital cost of $103,000 were sold for proceeds of $65,000. None of the individual assets sold had proceeds that exceeded their individual capital cost. Calculate the maximum CCA that can be taken on the class of asset for the year ending December 31, 2020 and calculate the UCC for the class of asset on January 1, 2021. In addition, determine the amount of any recapture or terminal loss that may arise

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