Midori Sato Owns a Rental Property Which Had a UCC

question 4

Multiple Choice

Midori Sato owns a rental property which had a UCC of $85,000 at the beginning of 2019.After all allowable expenses other than CCA, Midori's total rental income was $1,000 in 2019 and $10,000 in 2020.Midori always deducts the maximum CCA allowed.What is the UCC for the rental property at the end of 2020? (The property is a Class 1 building amortized at 4%.)

• A)$78,336
• B)$80,640
• C)$84,000
• D)$85,000

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Definitions:

Bank Statement Balance

The total amount of money that is available in a bank account at a particular point in time, as recorded by the bank.

Checkbook Balance

The current total amount of funds available in a checking account, reflecting all transactions that have been recorded in the checkbook ledger.

Bank Error

A mistake made by a bank in accounting transactions, deposits, withdrawals, or charges.

NSF Check

A non-sufficient funds (NSF) check is a check that cannot be processed because the account from which the funds are drawn does not have enough funds.