taxation

Question 1. Viva Bhd. purchased an asset on Hire Purchase term costing RM100,000 on 1 July 2020. Viva paid 10% as deposit and the balance on equal instalment for 5 years. No interest is charged by the lesson for the transaction. Required. i. Calculate the residual expenditure for the asset, for the YA of 2020 and 2021. Both the initial and annual allowance for the asset are pegged at 20%. (10 marks) ii. Supposed that Viva Bhd. sold the asset on 31 December 2021 for RM75,000, what is the balancing charged for the disposal. Assume that the financial year for Viva Bhd. is the calendar year. (5 marks) Question 1. Viva Bhd. purchased an asset on Hire Purchase term costing RM100,000 on 1 July 2020. Viva paid 10% as deposit and the balance on equal instalment for 5 years. No interest is charged by the lesson for the transaction. Required. i. Calculate the residual expenditure for the asset, for the YA of 2020 and 2021. Both the initial and annual allowance for the asset are pegged at 20%. (10 marks) ii. Supposed that Viva Bhd. sold the asset on 31 December 2021 for RM75,000, what is the balancing charged for the disposal. Assume that the financial year for Viva Bhd. is the calendar year