Required: a)Compute the total capital allowances claimable by Ibu Mertuaku Berhad for the above assets for the year of assessment 2022. THERE IS NO MORE INFORMATION WERE GIVEN. PLEASE DO ANSWER USING THESE INFORMATION ONLY.
Required: a)Compute the total capital allowances claimable by Ibu Mertuaku Berhad for the above assets for the year of assessment 2022. THERE IS NO MORE INFORMATION WERE GIVEN. PLEASE DO ANSWER USING THESE INFORMATION ONLY.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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a) Ibu Mertuaku Berhad manufactures paper boxes. The company closes its
accounts annually on 31 May, and in its year ended 31 May 2022, the
company acquired the following assets:
- A lorry was acquired under a hire purchase scheme and the relevant
details are as follows:
- A heavy machine was acquired for RM3,000 and used in the company.
- A reconditioned van was acquired for RM130,000 to transport their
management team. The van was not licensed as a commercial vehicle.
- On 3 October 2022, the company bought a folding machine for
RM120,000.
Required:
a)Compute the total capital allowances claimable by Ibu Mertuaku Berhad for
the above assets for the year of assessment 2022.
THERE IS NO MORE INFORMATION WERE GIVEN. PLEASE DO ANSWER USING THESE INFORMATION ONLY.
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