SAMI LtdWas Incorporated on January 1, 2020

question 9

Multiple Choice

SAMI Ltd.was incorporated on January 1, 2020.The incorporation costs were $4,500.SAMI then purchased WELL Co.The assets of WELL Co.included $80,000 of equipment, goodwill of $50,000 and a customer list valued at $30,000.SAMI's year-end is December 31.The company maximizes its allowable deductions.How much is SAMI's Class 14.1 UCC at the end of 2020?

• A)$74,000
• B)$75,387
• C)$78,162
• D)$149,387

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Definitions:

Price

The cash amount projected, required, or delivered in settlement for something.

Total Revenue

Total revenue is the total amount of money earned by a firm from the sale of its goods and services before any costs are subtracted.

Demand Schedule

A table that lists the quantities of a good a consumer is willing to purchase at different price levels during a specific time period.

Total Revenues

The total amount of money generated from sales of products or services before any expenses are subtracted.