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  3. question 22(6 points) can-site ltd., has the fol

Question 22(6 points) Can-Site Ltd., has the following information with respect to its...

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Accounting

Question 22(6 points)
Can-Site Ltd., has the following information with respect to its depreciable property on January 1,2023:
Property Class:
UCC:
Capital Cost:
Class 8-20%
$60,000
$120,000
During the 2023 taxation year, the following transctions occur:
Class 8-20% : June 15- Furniture with a capital cost of $40,000 was sold for $30,000.
June 25- New ergonomic desks with a cost of $80,000 were purchased.
Note: Assume that any depreciable property purchases meet the conditions to qualify for the Accll.
Required (show all calculations):
For the 2023 taxation year calculate the maximum CCA that can be claimed by Can-Site for
class 8.
In addition, calculate the January 1,2024, UCC balance for class 8.
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