2. Rajin Resources is a sole proprietorship business owned by Tisha. The business closes its accounts...

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2. Rajin Resources is a sole proprietorship business owned by Tisha. The business closes its accounts on 31st December each year. The assets owned by the business are as follows: (i) Printing Machine The photocopy machine was bought by the business on 1st August 2016 for RM 18,000. Since the business intends to acquire an added features machine, the machine was then sold on September 2020 for RM 6,500. (ii) Honda City A motor vehicle, costing RM 75,000 was bought on 1st November 2017 and it was not licensed for commercial transportation. The car was sold for RM 35,500 on 30th April 2020. (iii) Machine XY The business incurred RM 200,000 for acquisition of machine including the cost of preparing site for RM 20,000 on 1st January 2020. Required: Compute the amount of capital allowance, balancing charge and balancing allowance (if any) for Rajin Resources for all years of assessment until year assessment 2020. 2. Rajin Resources is a sole proprietorship business owned by Tisha. The business closes its accounts on 31st December each year. The assets owned by the business are as follows: (i) Printing Machine The photocopy machine was bought by the business on 1st August 2016 for RM 18,000. Since the business intends to acquire an added features machine, the machine was then sold on September 2020 for RM 6,500. (ii) Honda City A motor vehicle, costing RM 75,000 was bought on 1st November 2017 and it was not licensed for commercial transportation. The car was sold for RM 35,500 on 30th April 2020. (iii) Machine XY The business incurred RM 200,000 for acquisition of machine including the cost of preparing site for RM 20,000 on 1st January 2020. Required: Compute the amount of capital allowance, balancing charge and balancing allowance (if any) for Rajin Resources for all years of assessment until year assessment 2020.

Answer rating: 100% (QA)

Capital Allowance Year of Assessment 2016 Printing Machine RM 18000 Year of ... View the full answer