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calculate the depreciation allowance plz. The format and question is below. really need help. Question 2 (10 marks) SPA Limited is a company carrying on

calculate the depreciation allowance plz. The format and question is below. really need help.

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Question 2 (10 marks) SPA Limited is a company carrying on a business in Hong Kong selling antique furniture. The company makes up its accounts to 31 December each year. The movement of the fixed assets for the year ended 31 December 2015 are as follows: Furniture & Fixture Machinery * Motor vehicles S S Cost as at 1 January 2015 395,000 123,000 550,000 Additions 100,000 20,000 130,000 495,000 143,000 680,000 Disposals 160,000 200,000 Balance as at 31 December 2015 335,000 143,000 480,000 Proceeds from disposal 25,000 81,000 * not classified as prescribed fixed asset The tax written down values of plant and machinery brought forward from the year of assessment 2014/15 were as follows: 20% pool: $16,500 30% pool: $41,300 The following annual allowance rates are applicable to assets: Furniture & Fixture: 20% Machinery: 30% Motor vehicles: 30% Required: Calculate the amount of depreciation allowance of plant and machinery available to SPA Limited for the year of assessment 2015/16.A Read aloud Draw V Highlight V ) Erase Format of Depreciation allowance schedule Pool 10% 20% 30% Allowance Tax W.D.V. b/f Al A2 A3 Addition B1 B2 B3 Less: Initial allowance 60% on B1, B2, B3 (CD) (C2) (C3) C4=C1+C2+C3 DI D2 D3 Less: Disposal proceeds (limited to cost) (E1) (E2) (E3) F1 F2 F3 Less: Annual allowance (G1) (G2) (G3) G4 = G1+G2+G3 Tax W.D.V. o/f HI H2 H3 Total depreciation allowance C4+ G4

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