Suga Sdn Bhd (SSB) manufactures sugar in Kuching, Sarawak. Its paid- up capital of ordinary shares...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Suga Sdn Bhd (SSB) manufactures sugar in Kuching, Sarawak. Its paid- up capital of ordinary shares as at 1.1.2022 was RM15 million. SSB closes its accounts to 31.12. every year. SSB has financial information for the financial year ended 31.12.2022 as follows: Hire purchase creditors Mazda CX30 Less: Deposit Less: Repayment during the year Plant expenditure Plant and machinery Computer hardware and software Furniture and fittings Amount finance Capital Interest Balance (RM) (RM) (RM) 148,000 (38,000) 110,000 20,000 (20,000) (6,000) 90,000 14,000 130,000 (26,000) 104,000 Annual Qualifying Residual allowance expenditure expenditure (%) (RM) (RM) 14 1,200,000 20 600,000 10 60,000 792,000 120,000 18,000 A sofa was acquired on 25.4.2018 for RM18,000 was damaged in a flood on 1.3.2022. A net book value of RM9,000 on the sofa was written off during the year. SSB acquired a new machinery from Taiwan, amounted to RM320,000, which was imported on 1.12.2022 to expand the production line. Required: a) Compute balancing allowance for the sofa b) Compute total capital allowances of the following: (i) Plant and machinery (ii) Computer hardware and software (iii) Furniture and fittings (iv) Mazda CX30 (v) Machinery (8 marks) 07 Suga Sdn Bhd (SSB) manufactures sugar in Kuching, Sarawak. Its paid- up capital of ordinary shares as at 1.1.2022 was RM15 million. SSB closes its accounts to 31.12. every year. SSB has financial information for the financial year ended 31.12.2022 as follows: Hire purchase creditors Mazda CX30 Less: Deposit Less: Repayment during the year Plant expenditure Plant and machinery Computer hardware and software Furniture and fittings Amount finance Capital Interest Balance (RM) (RM) (RM) 148,000 (38,000) 110,000 20,000 (20,000) (6,000) 90,000 14,000 130,000 (26,000) 104,000 Annual Qualifying Residual allowance expenditure expenditure (%) (RM) (RM) 14 1,200,000 20 600,000 10 60,000 792,000 120,000 18,000 A sofa was acquired on 25.4.2018 for RM18,000 was damaged in a flood on 1.3.2022. A net book value of RM9,000 on the sofa was written off during the year. SSB acquired a new machinery from Taiwan, amounted to RM320,000, which was imported on 1.12.2022 to expand the production line. Required: a) Compute balancing allowance for the sofa b) Compute total capital allowances of the following: (i) Plant and machinery (ii) Computer hardware and software (iii) Furniture and fittings (iv) Mazda CX30 (v) Machinery (8 marks) 07
Expert Answer:
Answer rating: 100% (QA)
a Balancing Allowance for the Sofa Net Book Value before Flood Damage RM18000 RM9000 written off RM9... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Find the digital output of a 4-bit Successive Approximation ADC when the analog input is 13.6 V .and (LSB) of SAR is 1.5 V
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
At the beginning of 2019, Harold Cox had an $8,900 [(1/2)($17,800)] net capital loss carry forward from 2018. During the year 2019 Mr. Cox had the following: a capital gain of $75,000 on the sale of...
-
n Write a program that finds how many zeros in the list and puts the result in cntr variable (Copy and paste a program that is not related to the requirements will get Ox0000) .data list1 .word...
-
Colgate-Palmolive Co. produced a television advertisement that dramatically demonstrated the effectiveness of its Rapid Shave shaving cream. The ad purported to show the shaving cream being used to...
-
The function f is concave upward on the interval [0, 2] and the function g is concave downward on the interval [0, 2], as shown in the figure. (a) Using the Trapezoidal Rule with n = 4, which...
-
Consider the following cash flow profile and assume MARR is 10 percent/year and the finance rate is 4 percent/year. a. Determine the MIRR for this project. b. Is this project economically attractive?...
-
A new accounting intern at Gibson Corporation lost the only copy of this periods master budget. The CFO wants to evaluate performance for this period but needs the master budget to do so. Actual...
-
The current in the 1 3 . 8 2 resistor is / 3 = 0 . 9 A . 1 . Find the current in the other resistors in thecircuit? 2 . What is the total energy dissipated in resistor 4 1 7 . 2 0 if the power supply...
-
Suppose the current USD/euro exchange rate is 1.2000 dollar per euro. The six month forward exchange rate is 1.1950. The six month USD interest rate is 1% per annum continuously compounded? Estimate...
-
Consider a bond market that is represented by the payoff matrix 1 Yr 2 Yrs 106 0 Bond 1 6 Bond 2 110 where cell (ij) displays the cash flow from bond i at time j and P= Bond 1 ? Bond 2 100 where the...
-
Set up the equilibrium equations required to analyze the frame in Figure P10.33 by the slopedeflection method. Express the equilibrium equations in terms of the appropriate displacements. EI is...
-
Determine the degree of kinematic indeterminacy for each structure in Figure P10.35. Neglect axial deformations. A CON B (a) B 3 IT CREARE B B (P) RECUSANA SECCIONS PERM H F
-
Analyze the frame in Figure P10.26. Given: \(E I\) is constant. 1 kip/ft, w = 1 kip/ft B 108 A 44 -25'- C T 10' 20'
-
a. How would Hong Kongs budget surplus change in 2019 if its central bank moved interest rates up? b. How would Hong Kongs budget deficit change in the long run if its central banks monetary policy...
-
Calculate the marginal propensity to save. Use the following data for the Australian economy to work Problems Disposable income Saving (billions of dollars per year) 0 100 200 300 400 0 25 50 75 100
-
Define lock. Define locking. Explain lock based protocol.
-
Assume Eq. 6-14 gives the drag force on a pilot plus ejection seat just after they are ejected from a plane traveling horizontally at 1300 km/h. Assume also that the mass of the seat is equal to the...
-
At December 31, 2017, the following data were available for a building owned by NU Company: Building cost ...........................................................................................
-
Meagans Psychologist Practice Ltd. is a private corporation that elects to report its financial results in accordance with ASPE. Meagans activities for the year ended December 31, 2018, included the...
-
During 2016, Heather Ltd. purchased 6,000 shares of Oaktree Corp. for $31 per share ($186,000 total). Heather held these shares until September 2018, when it old them for $36 per share. During these...
-
On November 15, 20X3, Chow Inc., a U.S. company, ordered merchandise FOB shipping point from a German company for 200,000. The merchandise was shipped and invoiced on December 10, 20X3. Chow paid the...
-
On April 8, 20X3, Trul Corporation purchased merchandise from an unaffiliated foreign company for 10,000 units of the foreign companys local currency. Trul paid the bill in full on March 1, 20X4,...
-
On September 1, 20X1, Cott Corporation received an order for equipment from a foreign customer for 300,000 LCUs when the U.S. dollar equivalent was $96,000. Cott shipped the equipment on October 15,...
Study smarter with the SolutionInn App