Martin purchased a van for £12,000 during his six-month period of account to 31 July 2023. What is the maximum amount of capital allowances available for the van for the six months ended 31 July 2023? A £1,080 B £2,160 C £6,000 D £12,000

Martin purchased a van for £12,000 during his six-month period of account to 31 July 2023. What is the maximum amount of capital allowances available for the van for the six months ended 31 July 2023? A £1,080 B £2,160 C £6,000 D £12,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Adrian pays ₱608497 cash and the balance in 17 quarterly payments of ₱24588 for a house and lot. If…

A: Cash payment (DP) = P608497 Quarterly payment (P) = P24588 Number of quarterly payments (n) = 17…

Q: I need Explation and step solution.....

A: Solution with Explanation:Step 1: Calculate Interest Accrued for Each PeriodPeriod 1 (May 13 - June…

Q: Ram had borrowed certain sum of Rs.1,20,000/- from Shyam for which he had executed some documents.…

A: Promissory Note - A promissory note is a debt instrument, Which contain a written promise to pay to…

Q: Liam had an extension built onto his home. He financed it for 48 months with a loan at 4.9% APR. His…

A: Loan (mortgage) amortization schedule refers to a schedule which is prepared to shows the periodic…

Q: Babylon provided Munir with a loan of $28,000 at interest rate of 0.6%. The funds were provided on…

A: To calculate the taxable benefit from the loan provided by Babylon, we need to determine the…

Q: Mae purchased a home for ₱4,570,000 and obtained a 20-year loan with an annual interest rate of…

A: Given Information : Cost of home = 4,570,000 pesos Period of loan = 20 years Annual interest rate =…

Q: On December 31, 2024, Samuels Bakery Company purchased $700,000 of property by paying $100,000 in…

A: Here in this question, we are required to pass the journal for mortgage payment. Journal entry pass…

Q: John Perez receives P 90,000.00 credit for his old automobile when buying a new model costing P…

A: The question can be solved as follows:

Q: calculate the APR on the loan. round to two decimal places

A: Purchase price2300Down payment600Loan amount1700No.of payments48Payment Amount42.5Monthly…

Q: 1. anim bought a flat for RM56,000, and get financing for 90% of the value, at 3.55% p.a., and the…

A: In excel. Flat Price 56,000.00 Loan to Value ratio 90% Loan AMount 50,400.00…

Q: how much does he need to pay quarterly?

A: A stream of equal cash flows (CF) paid or received periodically is termed as annuity. Annuity due…

Q: Joshua borrowed P250,000.00 with interest at the rate of 5% compounded semi-annually. He agrees to…

A: Interest rate = 5% (Assumed for every 6 month) Loan amount = P250,000 Calculation of loan amount…

Q: Mr. and Mrs. Smith have just purchased a $600,000 house and have made a down payment of$120,000.…

A: Accroding to the question, Principal= Beginning balance of the loan at the beginning of period 1…

Q: Fernando invested money in a 3-yr CD (certificate of deposit) that returned the equivalent of 6.5%…

A: A Certificate of Deposit (CD) is a type of savings account offered by banks and other financial…

Q: how much will her daughter received after his death

A: Time value of money (TVM) means that the amount of money received in the present period will have…

Q: Troy will receive $8450 at the end of Year 2. At the end of the following two years, he will receive…

A: Future value is calculated using following equation. Future value = Vn×1+rm-n Vn is value of cash…

Q: On March 1, 2012, Jason's Deli loaned $12,000 to Mark Johnson for one year at 5 percent interest.…

A: Introduction: Interest refers to the amount charged by the lender on the lent amount. The borrower…

Q: Today, Cari purchased a car worth P1.5 million. A down payment of P150,000.00 has been made, and the…

A: Amortization of Loan Calculation of Equalized Payment ( instalment )

Q: At the end of 2016, Susan had saved 65 000 € for her retirement. She plans to withdraw at the end of…

A: In order to calculate the periodic payment of an annuity, we are required to use the PMT function of…

Q: a) Peter wishes to purchase a motor vehicle from a dealer in Johannesburg for R150 000. His bank,…

A: We will use excel function 'PMT' to find the monthly payment for the loan. as shown in the above…

Q: Trina opened a deposit account on December 1, 2016 with a deposit of $5 000. She added $2000.00 on…

A: The concept of money's time value indicates that any sum of money is worth more currently than what…

Q: Mr CJ needs a financial product to provide cash in the future: R10 000 at the end of the first year;…

A: Cash payment today is present value of future cash flow that is to be received in the future that is…

Q: A man borrowed K6,000 a 7% and agrees to pay back by making equal payments at end of every month for…

A: Amortization schedule: A table that details the regular payments for an amortizing debt is called an…

Q: If Kirk deposited $1200 annually and it earns 4.37%, how much will accumulate in 9 years

A: Payment = p =$1200Interest Rate = r = 4.37%Time = t = 9 Years

Q: Could you help me solve this accounting homework problem for me? and please show all your work so I…

A: Journal entries are prepared to record the financial and non financial transactions of the business.

Q: An employee obtained a loan of P100,000.00 at the rate of 6% compounded annually in order to build a…

A: The series of monthly payments is a form of annuity wherein an equal amount is paid every month.

Q: Bob Smith borrowed $800,000 on Jan 1, 2022. This amount, plus accrued interest at 12% compounded…

A: We have the amount borrowed ,rate of interest and term after whcih the same needs to be reapid. We…

Q: On January 1, 2023, Holiday Corporation completed the following transactions (you can assume a 6%…

A: As per accounting concept, all costs directly associated with purchase of assets or making them…

Q: On 11/01/20X1, TK purchases a new truck at a price of EUR 205,000 plus VAT on Ziel. The transfer of…

A: All costs required to bring an asset to its present location and condition for its intended use…

Q: uston purchased a wall unit for $2,200. He made a $600 down payment and financed the balance with an…

A: The given problem can be solved using RATE function in excel. RATE function computes interest rate…

Q: Rally bought a brand new car for P 600,000. He pays a down payment of P 150,000, balance to be…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: Sean purchased an interest-bearing promissory note for $11,000.00 at 5.00% p.a., due in 90 days. If…

A: The promissory note refers to a debt instrument that is issued by a person who writes a note by…

Q: Use the following to answer questions 20 – 24 On January 1, year 1, JT borrows $41,000 to purchase a…

A: Working Sheets Loan 41000.00 rate 0.03 P.A tenure 72.00…

Q: Tim Huston purchased a wall unit for $2,200. He made a $600.00 down payment and financed the balance…

A: An asset purchase has been financed by loan. The loan is amortized by a monthly payment. We have to…

Q: and you cannot cancel on the due date, so you must cancel with a delay of 25 days, it is requested:…

A: Interest is the fee paid to a lender for using the funds. It is the compensation paid to an investor…

Q: Tim Houston purchased a wall unit for $2,400. He made a $600 down payment and financed the balance…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Tim Houston purchased a wall unit for $2,200. He made a $800 down payment and financed the balance…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Q2.7: Morgan purchased a house for $400,000. He made a downpayment of 15% of the value of the house…

A: a) Computation of size of the monthly payments is as follows:Amount of loan=Purchase price of…

Q: Megamind Inc. purchases equipment for $250000. They pay $50,000 cash and the supplier finances the…

A: Cash paid = $50,000 Finance portion = $250,000 - 50,000 = $200,000 Interest payment annually =…

Q: An engineer signs a contract to work in Hong Kong for 5 years. The contract specifies that at the…

A: a. Present value = Amount*(1-(1+rate)^-years)/Rate) Present value = $90,000*(1-(1+6%)^-3) / 6%)…

Q: a) Determine the monthly payment amount assuming an effective interest rate of 1.6% per annum. (b)…

A: Using annuity formulas, we can solve this question. The formula to determine the monthly payment of…

Q: On February 19, 2026, Anna will need P 40,000. Assume that the annual effective interest is 7%. How…

A: The deposited amount will be the present value of amount for which withdrawal will be taken in…

Question

Martin purchased a van for £12,000 during his six-month period of account to 31 July 2023.

What is the maximum amount of capital allowances available for the van for the six months ended 31 July 2023?

A £1,080 B £2,160 C £6,000 D £12,000

AI-Generated Solution

AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.

Unlock instant AI solutions

Tap the button
to generate a solution

Click the button to generate
a solution

SEE SOLUTION

Similar questions

A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $103,000.00 for 27 years at a 4.1% annual interest rate, with interest compounded monthly, and will make monthly payments of $526.17. (Round all answers to 2 decimal places.) Create an amortization table to answer the following: a) What is the unpaid balance after 11 months? $ 100410.01 b) Over the 11 months in part (a), how much total interest did she pay? S
John needs £1,000 in 6 years' time, how much must he deposit into a bank account that pays 6.6388% per annum effective?
Can you show complete solutions for the first three questions?
Troy will receive $9486 at the end of Year 2. At the end of the following two years, he will receive $7971 and $2238, respectively. What is the future value of these cash flows at the end of Year 6 if the interest rate is 4 percent?
Pamela borrowed $12,000 for investment purposes on March 12 on a demand note providing for a variable rate of interest and payment of any accrued interest on December 31. She repaid $1,230 on June 17, $1,880 on September 10, and $3,460 on November 8. How much is the final payment on December 31 if the rate of interest was 11.5% on March 12, 8.75% effective August 1, and 6.45% effective October 1? (Use the Declining Balance Approach) June 17 Payment Calculate the interest accrued to June 17. Calculate the amount of the payment that can be applied to the principal. Calculate the remaining principal. September 10 Payment Calculate the interest accrued to August 1. Calculate the interest accrued to September 10. Calculate the amount of the payment that can be applied to the principal. Calculate the remaining principal. November 8 Payment Calculate the interest accrued to October 1. Calculate the interest accrued to November 8. Calculate the amount of the payment that can be applied to the…
An employee obtained a loan of P10,000 at the rate of 6% compounded annually in order to repair a house. How much must he pay monthly to amortized the loan within a period of 10 years?
Layla puts PhP 45,000 into an account to use for future expenses. The account earns 13%, compounded quarterly. How much will be in the account after 8 years?
Tim Houston purchased a wall unit for $2,200. He made a $800 down payment and financed the balance with an installment loan for 48 months. If Tim's payments are $42.50 per month, use the APR formula to calculate what annual percentage rate he is paying on the loan. (Round your answer to two decimal places.)
A nurse borrowed P100, 000 to pay for the processing fee of her papers to work in the US. She borrowed from a financing company charging 10% compounded quarterly. The loan is to be amortized by quarterly payments for a term of one year. 1) How much is the quarterly payment? 2) Construct an amortization schedule for this loan
On February 18, 2026, Anna will need P 40,000. Assume that the annual effective interest is 7%. How much would Anna have to deposit on March 25, 2022 in order to be able to withdraw an amount of P40,000 on February 19, 2026?
Mr. Francis requires Rs. 20,000 at the beginning of each year from 2033 to 2037. The interest rate is 10%. Determine the deposit required to be made at the end of each year from 2023 to 2028?
Henry purchased farm machinery and would pay P150,000 at the end of every 6 months for 5 years with 9% interest compounded monthly. Find the equivalent cash price of the farm machinery. *