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