S/N 1 a) Asase Aban Limited commenced business October, 2015 to manufacture Office Farm inputs. Accounts...
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S/N 1 a) Asase Aban Limited commenced business October, 2015 to manufacture Office Farm inputs. Accounts are made up to 31st March each year. The following depreciable assets were acquired and put to use in the business. 2 3 4 5 Date of Purchase October, 2015 September, 2015 December, 2015 April, 2016 November, 2015 February, 2017 7 July, 2017 8 Data Handling Equipment January, 2015 The Toyota Hiace bus was disposed off in June 2017 for an amount of GHS100,000. Profits declared were as follows: Period to 31-3-2017-GHS864,000 Year to 31-3-2018-GHS500,000 6 Asset Factory Building Plant & machinery ii. Toyota Hiace bus (DV 1450-15) Distribution Van (BS 1216-16) Office Equipment Furniture & Fittings Toyota saloon (GS 7845-17) Required: i. Amount 600,000 300,000 210,000 200,000 240,000 300,000 280,000 240,000 Compute the capital allowance claimable by the company for all the relevant years. Determine the company's chargeable income for all relevant years. S/N 1 a) Asase Aban Limited commenced business October, 2015 to manufacture Office Farm inputs. Accounts are made up to 31st March each year. The following depreciable assets were acquired and put to use in the business. 2 3 4 5 Date of Purchase October, 2015 September, 2015 December, 2015 April, 2016 November, 2015 February, 2017 7 July, 2017 8 Data Handling Equipment January, 2015 The Toyota Hiace bus was disposed off in June 2017 for an amount of GHS100,000. Profits declared were as follows: Period to 31-3-2017-GHS864,000 Year to 31-3-2018-GHS500,000 6 Asset Factory Building Plant & machinery ii. Toyota Hiace bus (DV 1450-15) Distribution Van (BS 1216-16) Office Equipment Furniture & Fittings Toyota saloon (GS 7845-17) Required: i. Amount 600,000 300,000 210,000 200,000 240,000 300,000 280,000 240,000 Compute the capital allowance claimable by the company for all the relevant years. Determine the company's chargeable income for all relevant years.
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i Depreciation for 2015 Building 60000050 12000 Plant an... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-1305084858
12th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Posted Date:
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