Answered: Required: Prepare the capital allowance…

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 6

(b) Tingtong bought the following assets during the year 2017 for his retail
business. The Inland Revenue has sent notice to him that he is being
audited for the years of assessment 2018 to 2022.
 A van costing RM30,000
 Air conditioner costing RM3,000

 Table and chairs costing RM2,000
 Computer costing RM4,000

Required:
Prepare the capital allowance and residual expenditure schedules for the above
assets for the years of assessment 2018 to 2021.

Explain and elaborate the answer according to the question. Thank you.

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