Accounting Assignment/ Professional Essay Writers

The following are independent situations.

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(a) Janice Martin was an employee of XYZ Ltd. She was required to use her car in her employment duties and at the end of last year, the UCC of her car (Class 10) was $3,500. She left XYZ during this year and began working for Executive Search Service, where she was not required to use her car. Janice sold her car this year for $3,200.

(b) Ramesh acquired a rental building on September 1 this year at a cost of $75,000. His net rental income for the four months is $2,000. He wants to claim the maximum CCA.

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(c) In 2002, William acquired two rental buildings at a cost of $60,000 each. He has sold one for $90,000. The UCC of each building was $45,000. Ignore any capital gain.

(d) Colin bought a piece of land that he is renting to a farmer for pasturing his cows. The land cost $35,000 and Colin received $1,500 in rent. Is Colin restricted on the CCA he is allowed?

(e) Randi sold her rental property last year for $100,000. The allocation was $75,000 for the building and $25,000 for the land. Her legal fees for selling the property were $2,000. What are her proceeds of disposition for the building? REQUIRED Identify the CCA, amortization, or other amounts in each of the above situations. Get Accounting Help Today

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