Homework Help is Here – Start Your Trial Now!
Business
Accounting
Required: Compute the industrial building allowances and charges (if any) due to Bunny Ponny Toys Sdn Bhd for all the relevant years of assessment up to the year ssessment 2016.

Required: Compute the industrial building allowances and charges (if any) due to Bunny Ponny Toys Sdn Bhd for all the relevant years of assessment up to the year ssessment 2016.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please help me

Required: Compute the industrial building allowances and charges (if any) due to Bunny Ponny Toys Sdn Bhd for all the relevant years of assessment up to the year of assessment 2016. B.
Transcribed Image Text:Required: Compute the industrial building allowances and charges (if any) due to Bunny Ponny Toys Sdn Bhd for all the relevant years of assessment up to the year of assessment 2016. B.
Bunny Ponny Toys Sdn Bhd incurred the following expenditures for its new manufacturing plant in Nilai, Negeri Sembilan. Date Expenditure Amounț (RM'000) 15 Mar 2012 17 Mar 2012 Purchase of land Legal Fees and Stamp Duty of which RM3,000 relates to land 200,000 8,000 10 Apr 2012 Architect's Fees 30,000 2 Jan 2013 Construction cost 2,200,000 80,000 1,000,000 2 May 2013 Cost of recreational room and canteen for factory workers Cost of preparing, cutting and tunneling land to install a machinery Cost of a machinery 18 Jul 2013 18 Sept 2013 500,000 area was used for the following purposes: Usage of space Factory Canteen Rest room and wash room 80% 2% 3% Administration office 10% Showroom 5% In July 2016, the whole building was sold to Smily Toys Sdn Bhd for RM5,000,000 of which RM800,000 relates to the cost of land. Required:
Transcribed Image Text:Bunny Ponny Toys Sdn Bhd incurred the following expenditures for its new manufacturing plant in Nilai, Negeri Sembilan. Date Expenditure Amounț (RM'000) 15 Mar 2012 17 Mar 2012 Purchase of land Legal Fees and Stamp Duty of which RM3,000 relates to land 200,000 8,000 10 Apr 2012 Architect's Fees 30,000 2 Jan 2013 Construction cost 2,200,000 80,000 1,000,000 2 May 2013 Cost of recreational room and canteen for factory workers Cost of preparing, cutting and tunneling land to install a machinery Cost of a machinery 18 Jul 2013 18 Sept 2013 500,000 area was used for the following purposes: Usage of space Factory Canteen Rest room and wash room 80% 2% 3% Administration office 10% Showroom 5% In July 2016, the whole building was sold to Smily Toys Sdn Bhd for RM5,000,000 of which RM800,000 relates to the cost of land. Required:
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Market Efficiency
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS