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please help me i will give good rating (B) Suli Bhd. (Suli) is a listed company that specialises in producing candles. On 1 August 2021,
please help me i will give good rating
(B) Suli Bhd. (Suli) is a listed company that specialises in producing candles. On 1 August 2021, Suli acquired a plant at a cost of RM4 million. The plant has a useful life of 15 years. Suli depreciates its plant using the straight-line basis. For income tax purposes, the tax authority allows an initial allowance of 40% on the cost of the plant to be deducted as tax expense in the first year. Besides the initial allowance, an annual allowance of 10% on the original cost is also allowed as tax expense every year. The income tax rate applicable would be 25% for the year ended 31 July 2024. Required: Calculate the deferred tax liability balance to be included in the statement of financial position of Suli Bhd. as at 31 July 2024Step by Step Solution
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