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B. Django Sdn Bhd was commenced on 1 January 2015 as a manufacturing business. It closes it accounts on 31 December each year. Below is
B. Django Sdn Bhd was commenced on 1 January 2015 as a manufacturing business. It closes it accounts on 31 December each year. Below is the information on its non- current assets used for the purpose of the business: Van The van was purchased on hire purchase basis and the terms were as follows: Cash price Deposit Installment payment: First installment: RM145,000 10% on cash price (paid on 1 February 2017) RM2,700 for 60 months 1 March 2017 The van was then disposed on 28 August 2019 at RM85,000. General machine On 21 June 2019, the company purchased a general machine at a cost of RM70,000. The company incurred RM12,000, RM8,900 and RM11,500 respectively on installation cost, alteration cost and site preparation cost for the general machine. General machine The company has a branch in India and the manager decided to bring a general machine into the business in Malaysia on 13 October 2017. The market value and net book value on the date of transfer were RM27,800 and RM28,000 respectively. The company incurred another RM5,400 on the installation cost of the general machine. Required: Compute the capital allowances, balancing allowances or balancing charges (if any) in respect of the company's non-current assets for the relevant years of assessment up to year of assessment 2019. (15 marks) (Total: 30 marks)
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