E. FaCai Sdn Bhd, a manufacturing company, incurred capital expenditure on the following assets in the...
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E. FaCai Sdn Bhd, a manufacturing company, incurred capital expenditure on the following assets in the year ended 30 September 2011: RM RM New factory Construction Land cost Design and plan fees for building Legal fees & stamp duty (for purchase of land) Total cost of new factory 235,000 90,000 40,000 2.000 367,000 Production machinery (non-heavy machinery) Office equipment New computer system New motor car 195,000 18,000 85,000 125,000 Three assets had been acquired in previous years by the company. Two of these assets were disposed of during the year ended 30 September 2011. The relevant details of the three assets are as follows: Cost Residual expenditure Disposal price RM RM RM Motor car (acquired second hand) Office equipment Lorry 75,000 10,000 7,500 18,000 2,400 Still in use 25,000 150,000 60,000 Required: Compute the capital allowances, balancing allowance(s) and/or balancing charge(s) for FaCai Sdn Bhd for the year of assessment 2011. E. FaCai Sdn Bhd, a manufacturing company, incurred capital expenditure on the following assets in the year ended 30 September 2011: RM RM New factory Construction Land cost Design and plan fees for building Legal fees & stamp duty (for purchase of land) Total cost of new factory 235,000 90,000 40,000 2.000 367,000 Production machinery (non-heavy machinery) Office equipment New computer system New motor car 195,000 18,000 85,000 125,000 Three assets had been acquired in previous years by the company. Two of these assets were disposed of during the year ended 30 September 2011. The relevant details of the three assets are as follows: Cost Residual expenditure Disposal price RM RM RM Motor car (acquired second hand) Office equipment Lorry 75,000 10,000 7,500 18,000 2,400 Still in use 25,000 150,000 60,000 Required: Compute the capital allowances, balancing allowance(s) and/or balancing charge(s) for FaCai Sdn Bhd for the year of assessment 2011.
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Capital allowances for the main pool are calculated 18 on WDV basis Computing Capital allow... View the full answer
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date:
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