Question 2 ENAPA Manufacturing Company Limited commenced business on 19 March, 2016 making accounts to 31" December each year. The following assets were acquired for use in the business: Asset Industrial Building Plant & Machinery Computers Office Equipment Motor Van Toyota Saloon Car Date of Acquisition 15/10/2015 20/11/2015 03/01/2016 10/01/2016 15/02/2016 30/09/2016 Cost in GHe 2,500,000.00 1,600,000.00 80,000.00 138,000.00 220,000.00 180,000.00 The following additional assets were acquired by the company in 2018 year of assessment. Computers and accessories - GH105,000.00 Office Equipment GH78,000.00 On 30th November, 2018, the Toyota Saloon Car was involved in an accident and completely destroyed. The company received a compensation of GH120,000.00 from the insurer. The following accounts were submitted by the company at the Legon District Office of the Ghana Revenue Authority for the first three years of assessment. Period to 31/12/2016 - GH600,000.00 (profit) Year to 31/12/2017 - GH1,500,000.00(profit) Year to 31/12/2018 GH2,680,000.00 (profit) Required: Compute the capital allowance and the assessable income of the company for the relevant years of assessment. (15 marks) Rate of Capital Allowance Pool 1 - 40% Pool 2 - 30% Pool 3 - 20% Pool 4 - 10% Question 2 ENAPA Manufacturing Company Limited commenced business on 19 March, 2016 making accounts to 31" December each year. The following assets were acquired for use in the business: Asset Industrial Building Plant & Machinery Computers Office Equipment Motor Van Toyota Saloon Car Date of Acquisition 15/10/2015 20/11/2015 03/01/2016 10/01/2016 15/02/2016 30/09/2016 Cost in GHe 2,500,000.00 1,600,000.00 80,000.00 138,000.00 220,000.00 180,000.00 The following additional assets were acquired by the company in 2018 year of assessment. Computers and accessories - GH105,000.00 Office Equipment GH78,000.00 On 30th November, 2018, the Toyota Saloon Car was involved in an accident and completely destroyed. The company received a compensation of GH120,000.00 from the insurer. The following accounts were submitted by the company at the Legon District Office of the Ghana Revenue Authority for the first three years of assessment. Period to 31/12/2016 - GH600,000.00 (profit) Year to 31/12/2017 - GH1,500,000.00(profit) Year to 31/12/2018 GH2,680,000.00 (profit) Required: Compute the capital allowance and the assessable income of the company for the relevant years of assessment. (15 marks) Rate of Capital Allowance Pool 1 - 40% Pool 2 - 30% Pool 3 - 20% Pool 4 - 10%