Question
QUESTION 5.25 (Capitalexpenditure) Stanley Small, aresident primaryproducer, isasmall businessentity. He incurredthe followingexpenditureduringthe 2021/22 taxyear: Date NatureofExpenditure Amount 01/10/21 Landworkstopreventsoilerosion $35,000 31/12/21 ExtensionstoFarmhand'sAccommodation 6O,OOO 31/03/22 WaterStorageSystem
QUESTION 5.25 (Capitalexpenditure)
Stanley Small, aresident primaryproducer, isasmall businessentity. He incurredthe followingexpenditureduringthe 2021/22 taxyear:
| Date | NatureofExpenditure | Amount |
01/10/21 | Landworkstopreventsoilerosion | $35,000 |
31/12/21 | ExtensionstoFarmhand'sAccommodation | 6O,OOO |
31/03/22 | WaterStorageSystem | 27,000 |
01/05/22 | Eradicationofweedstoprotecttheland | 14,000 |
01/06/22 | Harvester(effectivelife62/zyears} | 31,000 |
Basedonthis data,whatis themaximumdeductionavailabletoStanley forthe2021/22 taxyear?
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th edition
470506954, 471345881, 978-0470506950, 9780471345886, 978-0470477144
