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Note 1: Fox Coffees assets include:

	Cost	NBV	UCC
Land	675,000	675,000
Building	650,000	500,250	551,000
Furniture and equipment	295,000	192,000	150,000
Delivery vans	276,000	200,000	145,000

Buildings costing $610,000 were acquired in 1998. The remaining buildings were acquired in 1985 and had a UCC balance of 0.

During the year, Fox Coffee disposed of office furniture. The original cost was $3,500 and no proceeds were received. Custom equipment with an original cost of $35,000 was sold for $44,000. The equipment and furniture were replaced with new furniture and equipment costing $55,000.

Note 2: Fox Coffee carries a life insurance policy on the major shareholder to ensure the company can survive until personnel can be replaced in the event of her death.

Note 3: Meals and Entertainment expense included $900 for the company holiday party. The remainder was spent while entertaining clients.

Note 4: Repairs and maintenance expense included $5,000 for painting the walls of one of the 1998 buildings with a trendier colour. The major expense ($25,500) was incurred adding new luxury vinyl plank flooring to the same building.

Note 5: Fox Coffee has $7,250 in their net capital loss pool (from 2002), and a $14,000 balance in their non-capital loss carryover pool (from 2016).

REQUIRED:

Assignment 1 Capital Cost Allowance Schedule (CCA):

Using an Excel workbook, prepare the CCA schedule in good form for Fox Coffee Ltd.

Deduct: lesser of

Beginning

cost or proceeds

Revised

Terminal

1/2 Year

Adjusted

CCA

Ending

Class

UCC

Additions

Disposals

UCC

Recapture

Loss

Rule

AccII

UCC

Rate

CCA

UCC

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