Aa 40. TUTORIAL 3Teenee Sdn.Bhd, prepares its accounts to 31st December annually, carries on a furniturebusiness. Information regarding its non-current assets are given below:(i) Office EquipmentCostDate of purchase::(ii) MachineryCostCost of siteDate of purchase :Date of disposal :Disposal price :::RM 10,00030th June 2018Date of purchase :Date of disposal :Disposal price :RM 37,000RM 5,00030th September 20181st November 2020RM 21,000(iii) Lorry (licensed for commercial used)CostRM 75,000:1st April 20191st November 2020RM 48,500Required:Compute the amount of capital allowance, balancing charge and balancing allowance (ifany) for Teenee Sdn.Bhd for all years of assessment until year assessment 2020.

The question asked to compute the capital allowances for Teenee Sdn. Bhd. for all the years of…

Teenee Sdn.Bhd, prepares its accounts to 31st December annually, carries on a furniture business. Information regarding its non-current assets are given below: (i) Office Equipment Cost Date of purchase: (ii) Machinery Cost Cost of site Date of purchase: Date of disposal Disposal price RM 10,000 30th June 2018 RM 37,000 RM 5,000 30th September 2018 1st November 2020 RM 21,000 (iii) Lorry (licensed for commercial used) Cost RM 75,000 Date of purchase: 1st April 2019 Date of disposal : 1st November 2020 RM 48,500 Disposal price: Required: Compute the amount of capital allowance, balancing charge and balancing allowance (if any) for Teenee Sdn.Bhd for all years of assessment until year assessment 2020.

Teenee Sdn.Bhd, prepares its accounts to 31st December annually, carries on a furniture business. Information regarding its non-current assets are given below: (i) Office Equipment Cost Date of purchase: (ii) Machinery Cost Cost of site Date of purchase: Date of disposal Disposal price RM 10,000 30th June 2018 RM 37,000 RM 5,000 30th September 2018 1st November 2020 RM 21,000 (iii) Lorry (licensed for commercial used) Cost RM 75,000 Date of purchase: 1st April 2019 Date of disposal : 1st November 2020 RM 48,500 Disposal price: Required: Compute the amount of capital allowance, balancing charge and balancing allowance (if any) for Teenee Sdn.Bhd for all years of assessment until year assessment 2020.

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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