AUG23 Deposit (v) On 24 May 2022, the business disposed of an old truck for Advanced Taxation InHall RM17,400. The residual expenditure brought forward on 1 January 2022 was RM1 1,900. Written Test (83k- 16 //60*4 12060 Less interest : ( 10 ) Question: (3k = 50X 9) Lucky Son Bhd, a trading company, closes its accounts on 31 December Required: 24.570 Compute the capital allowances and residual expenditure in respect of all each year. The following expenditure was incurred for the year ended 31 December 2022: the assets for the year of assessment 2022. Calculate balancing charge or balancing allowance (if any) for any qualified asset. Show relevant (i) Air compressor workings and any fractions can be round up to nearest ringgit. (20 marks) This heavy-duty air compressor machine was acquired on 15 February 2022 for RM16,000. The machine is used to operate many tools within the premise. Appendix: Capital allowance Schedule (ii) New truck for business use. The vehicle was acquired on 10 March without interest 16,170 Initial Annual 2022, under a hire purchase scheme as follows: cap instal (80k-16k = 64*/ / 50x9 11520 Allowance Allowance cannot take interest RM (IA) (AA) Cost 80,000(cap cost) OPE Rate % Rate % Deposit paid on 10 March 2022 20% = 16, 090 1,000 Loan (including interest) 64, 000 83,000 Industrial buildings 10 3 Instalment period 50 months 1 660 X 10 380 X 10 Plant and machinery - general 20 14 First instalment due on 1 April 2022 Motor vehicles and heavy 20 20 machinery (iii) Wrapping machine - Cost of machine 150,000 Office equipment, furniture and 20 10 - Cost of preparing site for installation 20,000 fittings Computer, IT and computer 20 40 (iv) Printer (2 units) 1,400 each software