ourses . Modules 2022-2 / Accountancy / (2022-2) ACY4003 / Online Assignment / Online Assigrment HK Ltd acquired machinery with a cash price of $100,000 under hire purchase terms. HK Ltd made a down payment of $20,000 on 1 September 2019 and settled the balance by 16 equal monthly installments of $5,500 each starting on 1. October 2019. HK Ltd cioses its accounts on 31 March each year. The annual allowance rate for the machinery is 30%. Which statement concerning the depreciation allowances for the machinery is correct? A. The machinery will be transferred to the 30% pool in 2020/21. B. The annual allowance in the year of assessment 2019/20 is $20,460. C. The annual allowance in the year of assessment 2020/21 is $5,700. D. No initial allowance will be given in the year of assessment of 2020/21