jordan purchased a $20,000 piece of office furniture during 2019. The balance in his UCC pool for furniture at the end of 2018 year was $60,000 and is amortized at the declining balance rate of 20%. If jordan's CCA is $18,000, what is the ending UCC for 2019?

jordan purchased a $20,000 piece of office furniture during 2019. The balance in his UCC pool for furniture at the end of 2018 year was $60,000 and is amortized at the declining balance rate of 20%. If jordan's CCA is $18,000, what is the ending UCC for 2019?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

jordan purchased a $20,000 piece of office furniture during 2019. The balance in
his UCC pool for furniture at the end of 2018 year was $60,000 and is amortized at
the declining balance rate of 20%. If jordan's CCA is $18,000, what is the ending
UCC for 2019?

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