b) Sure-win Sdn Bhd is a manufacturer of digital products in Penang. The company closes its accounts to 31 December annually. The company commenced its business on 1 January 2021 and purchased the following non-current assets during the year. Plant and machinery (General) Factory building (including cost of land RM300,000) Motor car (Note 1) Note 1 Cost of motor car Less: Deposit paid Hire purchase loan (excluding interest) RM 60,000 900,000 120,000 RM 120,000 (60,000) 60,000 The first hire purchase instalment commenced on 1 February 2021. Instalment payable per month of RM4,000 consisted of interest portion RM1,000 and capital portion RM3,000. Required: Calculate the Industrial building allowance, capital allowances and residual expenditure for Sure-win Sdn Bhd for the YA 2021.

b) Sure-win Sdn Bhd is a manufacturer of digital products in Penang. The company closes its accounts to 31 December annually. The company commenced its business on 1 January 2021 and purchased the following non-current assets during the year. Plant and machinery (General) Factory building (including cost of land RM300,000) Motor car (Note 1) Note 1 Cost of motor car Less: Deposit paid Hire purchase loan (excluding interest) RM 60,000 900,000 120,000 RM 120,000 (60,000) 60,000 The first hire purchase instalment commenced on 1 February 2021. Instalment payable per month of RM4,000 consisted of interest portion RM1,000 and capital portion RM3,000. Required: Calculate the Industrial building allowance, capital allowances and residual expenditure for Sure-win Sdn Bhd for the YA 2021.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

b) Sure-win Sdn Bhd is a manufacturer of digital products in Penang. The company doses its
accounts to 31 December annually. The company commenced its business on 1 January 2021
and purchased the following non-current assets during the year.
Plant and machinery (General)
Factory building (including cost of land RM300,000)
Motor car (Note 1)
RM
60,000
900,000
120,000
Note 1
Cost of motor car
Less: Deposit paid
Hire purchase loan (excluding interest)
RM
120,000
(60,000)
60,000
The first hire purchase instalment commenced on 1 February 2021. Instalment payable per
month of RM4,000 consisted of interest portion RM1,000 and capital portion RM3,000.
Required:
Calculate the Inde
for Sure-win Sdn Bhd for the YA 2021.
ial building allowar
capital allowances and residual expenditure

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