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There were the following assets in Semerian Berhad for the year ended 3 April 2021: i Assets brought forward on the 1 May 2020: Plant
There were the following assets in Semerian Berhad for the year ended 3 April 2021:
i | Assets brought forward on the 1 May 2020: | ||||||||
Plant and Machinery bought in June 2019 for RM350,000 | |||||||||
Office equip,emt nought in Dec 2019 for RM2,300 | |||||||||
ii | In industrial building was commenced and completed in the current year for the following costs: | ||||||||
Expenditure | RM | ||||||||
Land | 570,000 | ||||||||
Legal fees (which included RH5,000 for the land) | 12,000 | ||||||||
Architect's fees | 30,000 | ||||||||
Construction costs | 270,000 | ||||||||
Roads and other infrastructure costs | 58,000 | ||||||||
iii | An old motor vehicle that had a WDV of RM32,000 was traded om at RM55,000 for a new car in February 2021. The cost of the car, was RM130,000 |
Required:
Compute the capital allowances for the assets +, the industrial allowance for the industrial building, the balancing allowance or balancing charge on the car traded in the capitalallowances for the new car
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