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N Question 3 Vast Construction Material Industry Sdn Bhd (accounting year end 31 March) is a manufacturing company commenced its business on 1 April
N Question 3 Vast Construction Material Industry Sdn Bhd (accounting year end 31 March) is a manufacturing company commenced its business on 1 April 2010. The company decided to construct a new factory building. The details of expenses incurred are: DATE 10 August 2015 15 October 2015 25 November 2015 12 February 2016 EXPENDITURE Architect's fees Construction cost Cost of internal roads Fencing of factory RM 550,000 5,500,000 350,000 400,000 Construction of the factory was completed on 20 February 2016 and the building was brought into use on 28 February 2016. Fifteen per cent (15%) of the floor space was used as a general office. Construction of the factory was completed on 20 February 2016 and the building was brought into use ion 1 March 2016. Fifteen per cent (15%) of the floor space was used as a general office. On 2 June 2017, an extension was made to the building for storage of the finished product at a cost of RM450,000. The extension was completed and brought to use on 10 November 2017. On 10 March 2017, Vast Construction Material Industry Sdn Bhd bought a new plant and machinery costing RM105,000 on 10 March 2017. The company incurred additional cost of installation amounted to RM55,000, while the cost of preparing the site for installation of the plant and machinery was RM112.500. On 10 January 2016, the company purchased a lorry on hire purchase. The cash price of the lorry was RM240,000. The deposit paid on 10 January 2016 amounted to RM20,000 and the balance was paid through 40 monthly of RM6.000 per month. The first monthly installment was paid on 1 March 2016. Required: first monthly installment was paid on March 2016 Required: Compute the capital allowances and industrial building allowances for the relevant years of assessment up to year of assessment 2018
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