Question: Paper Ltd has main pool assets with a tax written down value of $38,000 as at 1April, 2020. They purchase three Zero emission delivery vehicles

Paper Ltd has main pool assets with a tax written down value of $38,000 as at 1April, 2020. They purchase three Zero emission delivery vehicles for a total of $76,000 and purchase a car for the CEO costing $32,750 . The car has a 30% personal use and emits 165g/ CO2 / km. During the year they dispose of assets for $ 1,400 which had initially cost $ 15,750. Calculate the total capital allowance that can be claimed in the year to 31March 2021and the tax written down value at that date

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Distinguish between (a) organized exchanges and OTC markets, (b) brokers and securities dealers, (c) market orders and limit orders.

Hummingbird Ltd has main pool assets with a tax written down value of 38,000 as at 1 April 2020. They purchase three zero-emission delivery vehicles for a total of 76,000 and purchase a car for the...

Required (a) Calculate Paul Pipes tax adjusted trading profit after capital allowances for the year ended 30 September 2019. Your computation should commence with the net profit figure of 58,390 and...

You will write a 2 - 3 page paper, single spaced, one inch margins, 12 pt font, with double space between paragraphs. Your paper should comment on the financial statements for your company as they...

ACCT2060- Accounting for Organisations and Society Marking Rubric for Individual assignment Semester 1 2016 High distinction 10 Distinction 7.5 Credit 6.5 Pass 5 Below standards 2.5 Title page, and...

Attached are both the full project description and the General Motors SEC report. 2-3pagesinglepagepaper,1inchmargins,12pt.font...

download in the attach file and work on...

Hi. Please assist with multiple choice questions 26 - 30 as well as question 1 (written calculation question). This is based in on the South African Tax System. VAT Rate is 15%, Company Tax Rate is...

MINI AUDIT - COOK'S FURNITURE LTD. BACKGROUND INFORMATION BDC, Chartered Accountants is a medium size accounting firm located in Auckland with four audit partners, eight business advisory partners...

The bookkeeper of a company you are auditing states, Our balance sheet is dated December 31, the end of our accounting period. I dont understand loss contingencies and subsequent events. Also, I see...

On accepting a new manufacturing client, the auditor usually arranges to take a tour of the manufacturing plant. Assuming that the client has one major manufacturing plant, identify the information...

A . Purchased new equipment for $ 2 6 0 0 by issuing a check for $ 1 6 0 0 as a down payment with the balance two in 3 0 days. B . Returned damaged supplies and received an $ 8 0 C . Purchase...

Which of the following are problems with identifying users of ABC? Multiple select question. ABC means different things to different organizations. Organizations will announce the discontinuance of...

2-4 What is the role of the information systems function in a business? Describe how the information systems function supports a business. Describe the services provided by information systems...

1 What are business processes? How are they related to information systems? Define business processes and describe the role they play in organizations. Explain how information technology and...

2-3 Why are systems for collaboration and social business so important and what technologies do they use? Define collaboration and social business, and explain why they have become so important in...