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Ibu Mertuaku Berhad manufactures paper boxes. The company closes its accounts annually on 31 May, and in its year ended 31 May 2022, the company
Ibu Mertuaku Berhad manufactures paper boxes. The company closes its accounts annually on 31 May, and in its year ended 31 May 2022, the company acquired the following assets: - A lorry was acquired under a hire purchase scheme and the relevant details are as follows: - A heavy machine was acquired for RM3,000 and used in the company. - A reconditioned van was acquired for RM130,000 to transport their management team. The van was not licensed as a commercial vehicle. - On 3 October 2022, the company bought a folding machine for RM120,000. Required: Compute the total capital allowances claimable by Ibu Mertuaku Berhad for the above assets for the year of assessment 2022. I30 marks
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